David Coburn, Gainey Capital’s CEO commented “We are hoping to have initial assay results back from the Las Margaritas Phase 1 Exploration in late September or early October and will then identify targets for drilling in Q4 2018.”
Detailed geological mapping, rock chip and stream sediment sampling is underway in order to define potential drill targets on the Property.The Company is looking forward to Capstone advancing the project towards drill stage.Kootenay will report on results after programs are complete and Capstone reports them to the Company.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, the Babicanora Norte Vein continues to deliver near-surface drill intercepts with high-grade silver-gold mineralization along an estimated known strike length of 900 metres. We now have 30 epithermal veins on the property with a total cumulative strike length of approximately 20 kilometres, of which 5 kilometres have been partially drilled and only 3.5 kilometres were included in the February 2018 maiden resource. We are currently at the end of the rainy season with reduced drilling but have continued to step-out drill with several core rigs on the Babicanora Norte, Granaditas, and Babicanora Sur veins. We are systematically working towards an imminent resource update.
Vangold Mining Corp. announces that, further to its news release dated December 19, 2017 announcing the acquisition of the San Carlos Property, Mexico, it will not be proceeding with the acquisition at this time and has withdrawn its submission to the TSX Venture Exchange. The Company has decided to put the San Carlos property acquisition on hold until further exploration and drilling is completed on the nearby El Pinguico Mine property to confirm an extension of mineralization from the El Pinguico property.
Sample number 842 was channeled in the volcanic breccia over a width of 80cm and returned a very high-grade result of 4.027 kg/t Silver and 29.2 g/t Gold. This sample is located in the La Franca title, which is an area of 12 hectares in the northeast part of the Zamora Silver-Gold Property, and within the Campanillas claim. Zamora has a surface expression of 3,376.63 hectares. Auxico does not hold title to La Franca, however, La Franca is located 600 metres south-west of the Campanillas mine, form which samples assayed as high as 14.6 kg/t Silver and 15 g/t Gold. The structure can be followed for some 600m along strike with the Campanillas Mine which is indicated by numerous workings between the two historic mines, La Franca and Campanillas.
“We are very pleased to have been able to identify this additional style of mineralization giving us a secondary lower-grade target close to surface as well as the high-grade Margarita structure.” commented Ruben Padilla Vice President of Exploration for Sable. “With the first stage of drilling now complete we will evaluate our results and formulate a plan for stage 2 drilling targeting further extensions of Margarita and the other adjacent parallel veins”
“The additional trenching at La Gloria significantly extends surface mineralization to the northwest by 120 metres and to the east,” commented Charles Funk, Evrim’s Vice President of New Opportunities and Exploration. “The soil survey has a distinctive high sulphidation signature centred on a large gold in soil anomaly that is approximately 2,300 metres by 800 metres. The results indicate a potential major system with significant upside for additional mineralized centres within the La Gloria prospect.”
Riversides President and CEO, John-Mark Staude, stated: The Cecilia Project is one of Riversides top exploration prospects and we continue to be very encouraged by the exploration results and targeting work ongoing at site. The main central Cerro Magallanes area already hosts known high potential targets and with this regional soil and rock chip sampling program, the number of drill targets continues to expand. With several major mines and operators active in this general region of Mexico, it is our hope to build on the historical successes at Cecilia and make a new discovery.
As we continue to advance an aggressive multi-year exploration program at Mercedes, the Rey de Oro target confirms our belief that substantial potential exists to expand the mine life stated Charlie Ronkos, Executive Vice-President of Premier. This new mineralized zone is under development and we plan to begin mining (prior to year-end) where we are achieving substantial widths. Mined grades at Rey de Oro are expected to be well above our current mine site reserve grade.
“Our goal with the first hole of phase 2 drilling is to get under the gold discovery hole and hit the Tabasqueña vein at approximately 1800 metres above sea level. At this level we expect to hit the vein well into the precious metals horizon,” Allan Barry Laboucan, President and CEO of Advance Gold Corp.
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