Highlights:
- Hole LM-20-ED-76 intersected 21m of 9.82 g/t AuEq in the recent
El Dorado (“ED”) zone extension and 10m of 6.39 g/t AuEq in the West Dike Contact (“WDC”) zone. This hole confirmed the increase in width of the WDC zone ore shoot by 150% at the south end. - Multiple intersections in hole LM-20-ED-81 including 52m of 3.17 g/t and 12m of 4.31 g/t AuEq confirmed a
WDC Zone extension of more than 135m by 150m. - Hole LM-20-ED-73 intersected 28.3m of 2.03 g/t AuEq in the East Dike Contact (“EDC”) zone ore shoot 150m to the south-east of the previous intersection.
* Refer to the drill results table below for estimated true widths and depths
“These results mark the successful conclusion of our 2020 drill program which was designed to expand and upgrade resources at the El Dorado resource zone. Drilling demonstrated that the deposit remains open in several directions and significantly expanded tonnage. This drilling will form the basis for an updated resource model and a Preliminary Economic Assessment at Las Minas,” stated Philip O’Neill, Chief Executive Officer.
Hole ID | From (m) | To (m) | Length (m) | AuEq g/t | Au g/t | Cu % | Est. True Width (m) | Azimuth | Dip |
LM-20-ED-72 | 60.5 | 78.5 | 18 | 3.38 | 2.45 | 0.6 | 6-8 | 185 | -75 |
including | 60.5 | 72.5 | 12 | 4.64 | 3.34 | 0.84 | 4-5 | ||
LM-20-ED-73 | 197.1 | 225.4 | 28.3 | 2.03 | 1.48 | 0.36 | 20 | 80 | -55 |
LM-20-ED-75 | 143 | 147 | 4 | 2.65 | 1.78 | 0.58 | 3 | 115 | -55 |
and | 157 | 172 | 15 | 2.76 | 2.42 | 0.22 | 11 | ||
and | 189 | 193 | 4 | 2.11 | 1.92 | 0.12 | 3 | ||
LM-20-ED-76 | 139 | 149 | 10 | 2.14 | 1.23 | 0.61 | 7.5 | 99 | -50 |
and | 179 | 200 | 21 | 9.82 | 9.32 | 0.33 | 16.1 | ||
LM-20-ED-77 | 110.7 | 120.7 | 10 | 3.52 | 2.09 | 0.96 | uncertain | 90.5 | -53 |
LM-20-ED-78 | 141 | 143 | 2 | 2.09 | 1.85 | 0.32 | 1.5 | 88 | -55 |
and | 163 | 165 | 2 | 1.74 | 1.37 | 0.24 | 1.5 | ||
LM-20-ED-79 | 89 | 91 | 2 | 2.01 | 1.5 | 0.31 | 1.5 | 95 | -55 |
LM-20-ED-81 | 96 | 106 | 10 | 2.58 | 1.72 | 0.54 | uncertain | 212 | -70 |
and | 128 | 180 | 52 | 3.17 | 1.5 | 1.1 | uncertain | ||
including | 128 | 162 | 34 | 3.94 | 1.83 | 1.4 | uncertain | ||
and | 193 | 205 | 12 | 4.31 | 2.55 | 1.18 | 11 | ||
and | 224 | 230 | 6 | 1.55 | 0.89 | 0.43 | 5.6 | ||
LM-20-JB-40 | 130.3 | 132.3 | 2 | 1.69 | 0.31 | 0.93 | 1.9 | 268 | -72 |
LM-20-JB-41 | 154.2 | 162 | 7.8 | 1.85 | 1.05 | 0.51 | 5.5 | 273 | -45 |
LM-20-JB-42 | 7 | 15.4 | 8.4 | 1.41 | 1.03 | 0.22 | uncertain | 273 | -75 |
and | 110 | 119 | 9 | 2.43 | 0.99 | 0.94 | 9 | ||
LM-20-JB-43 | 60 | 64 | 4 | 2.39 | 0.6 | 1.2 | 4 | 90 | -48 |
LM-20-JB-44 | 20.5 | 34.5 | 14 | 2.52 | 1.08 | 0.96 | 14 | 265 | -48 |
LM-20-JB-45 | 64.7 | 74.7 | 10 | 1.52 | 0.54 | 0.63 | 9.7 | 79 | -75 |
including | 64.7 | 66.7 | 2 | 5.26 | 1.7 | 2.33 | 2 | ||
LM-20-JB-46 | 73.2 | 75 | 1.8 | 10.68 | 3.62 | 4.63 | uncertain | 270 | -55 |
and | 148.4 | 152.4 | 4 | 4.38 | 2.31 | 1.33 | 3.3 |
Table 1: Assay Results from the 2020 Drill Program at
Holes LM-20-ED-74, LM-20-ED-80, LM-20-LB-03, and LM-20-LB-04 returned no significant assays.
The AuEq grade is calculated using the following formula:
g AuEq/t = g Au/t + (0.0123077 x g Ag/t) + (1.4492753 x %Cu)
This formula is based on prices of
West Dike Contact Zone (WDC) Drilling:
The WDC zone consists of mineralization within 2 sub-parallel structures related to steeply-dipping diorite-marble contacts and the thickened, enriched ore shoots formed where the dike contacts meet the flat-lying
Holes LM-20-ED-76 (21m of 9.82 g/t AuEq) and LM-20-ED-81 (12m of 4.31 g/t and 8m of 3.34 g/t AuEq) successfully infilled the 100m by 75m expansion of the
Drilling on the southern limbs of the WDC vertical zone has and defined an up-dip height of 135 to 170m over 150m of strike:
LM-20-ED-75 cut a composite mineralized zone including 15m of 2.76 g/t AuEq, which has extended the zone 100m to the south.
LM-20-ED-72 (18m of 3.38 g/t AuEq) cut the
LM-20-ED-81 was also drilled steeply to the zone due to terrain constraints. A nearly continuous 135m of mineralization was encountered which included multiple intersections of the upper and lower WDC Zones and the
East Dike Contact Zone (EDC) Definition and Expansion:
The EDC has similar morphology to the WDC, with lesser thicknesses and grades, but it had not been included in previous resource modelling due to sparse drilling. Multiple mineralized intercepts in the 2020 program define continuous mineralization, which remains open to the SE.
LM-20-ED-73 intersected 28.3m of 2.03g/t AuEq closely above the
West El Dorado (ED) Zone Expansion:
Drilling detailed in the previous news releases of 2020 had appended a 450m long strip 90 to 135 m wide to the ED zone. The latest holes focussed on continuing this expansion to the north.
LM-20-JB-41 (7.8m of 1.85 g/t AuEq) and LM-20-JB-46 (4m of 4.50 g/t AuEq) represent 160m and 140m west extensions to the ED zone 100m and 150m north of pre-2020 drilling. LM-20-JB-42 (9m of 2.43 g/t AuEq) successfully infilled the 160m extension of hole LM-20-JB-41.
WDC Zone North Extension:
Quality Assurance/Quality Control
The technical information in this news release has been reviewed and approved by Sonny Bernales, P. Geo., a registered Professional Geoscientist in the Province of
The Company has implemented and adheres to a strict Quality Assurance/Quality Control program which includes inserting mineralized standards and blanks into the sample stream, about 1 for every 10 samples. The standards and blanks were obtained from
About
Mexican Gold is a Canadian-based mineral exploration and development company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the
For more information, please contact:
Philip O’Neill – CEO, President, and Director
E-mail: info@mexicangold.ca
Website: www.mexicangold.ca
Neither the
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Mexican Gold within the meaning of applicable securities laws. Mexican Gold provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to market conditions, exploration findings, results and recommendations, as well as those risks and uncertainties identified and reported in Mexican Gold’s public filings under Mexican Gold’s SEDAR profile at www.sedar.com. Although Mexican Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Mexican Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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