N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “It is still early days for us at Babicanora, and high-grade mineralization is open in all directions along strike and to depth of the Babicanora Vein. We believe there is strong potential for further high grade mineralization, as we systematically expand drilling along strike, down dip and subsequently intersect other associated veins. Originally, we assumed the Babicanora Vein had been historically mined out above the Babicanora adit; therefore, our initial target was at depth. It now appears that only the soft sheared rock has been partially mined, leaving significant hard rock mineralization in place. Soft rock mining is mentioned in historic Babicanora reports dating back to the 1800’s describing excavation by axe with no blasting required. Our exploration work at Babicanora includes surface and underground drilling, which is easily accessible via the four metre high by four metre wide adit that is approximately 230 metres long and was constructed in the 1860’s. With continued success, we will be diligently drill testing along the projected strike length of the Babicanora trend which is now over 4 kilometres long.”
GOLDCORP INC. today announced that the Company has entered an agreement with Orla Mining Limited pursuant to which it has agreed to sell its 100% interest in the Camino Rojo oxide project, located in Zacatecas, Mexico.
Radius Gold Inc. is pleased to announce that it has signed a binding agreement with a private individual to option the 380-hectare Amalia Project which is host to high grade epithermal silver-gold mineralization. The Project is located approximately 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua, Mexico. During due diligence evaluation Radius geologists sampled bonanza grade outcrop containing 20.4 g/t Au and 5360 g/t Ag from a 1.2m chip.
The drilling is part of a planned 6,900m program to test 3 of Prospero's projects under the terms of the recent strategic investment from Fortuna Silver Mines Inc. Prospero is planning to drill four holes at Matorral project, followed by eight holes at its Petate project, and then by eight holes at Pachuca SE. This drilling program is under the terms of Prospero's strategic agreement with Fortuna Silver Mines. Drill collar maps for Matorral will be available shortly on Prospero's website.
Gold mineralization is confined to low angle quartz “mantos” (0.10 to 3.0m wide), which contain drag folds, evidence of shearing and are transected by steep faults associated with mineralized quartz veins A chip channel sample 0.93m wide returned 22.2 g/t gold. Where observed, the quartz mantos are generally oriented with a WNW-ENE strike and moderate dip to the north and are believed to be of orogenic origin.
Harvest Gold’s’ President and CEO Rick Mark states: “As we promised our shareholders we are now beginning our Phase 1 exploration program at Cerro Cascaron. I am impressed with the technical team’s attention to detail and their very specific objectives. We will provide regular updates as we prepare for a minimum 3,000 metre drill program at this highly prospective property the fall of 2017.”