A Message from
'We are extremely pleased to be able to confirm and expand upon the widths and grades of the new discovery at the Margarita project that we announced earlier this year. We also have several more exciting drill holes that we are waiting to obtain results from and will release once available. With the continued success at Margarita, coupled with our recent success in obtaining a community agreement for the Santa Cecilia project, all shareholders and stakeholders of
A Message from
'We believe we have identified a robust mineralized system at Margarita, with our second drill hole into the Falla 13 discovery zone returning a long, consistent intercept of nearly 1 g/t gold and 0.68% copper over 98 metres. We remain impressed by the high gold content in the mineralization encountered to date and believe that additional gold bearing structures identified on the property will develop into new targets, even further adding to the potential of the property. We look forward to planning the next phase of drilling along the Falla 13 structural corridor and testing new targets.'
Technical Discussion of Drill Hole 22MAR-014R:
The extension of the discovery in drill hole 22MAR-014R is characterized by magnetite - chalcopyrite - specularite breccias similar to those encountered in the discovery drill hole, 22MAR-013R, and demonstrates a consistent style of mineralization. The mineralization encountered in the two drill holes appears to occur in separate lenses along the Falla 13 structural corridor as the mineralization is hosted in different segments within the hanging wall of the Falla 13 structural corridor (Figure 2). The breccia bodies encountered in both drill holes are located within a potassic altered dioritic intrusion that is overprinted in part by both chlorite and sericite. The geophysical signature of drill hole 22MAR-014R is consistent with that observed in drill hole 22MAR-013R, with high magnetic and conductivity signatures.
The mineralization intercepted in drill hole 22MAR-014R is characterized by a largely gold-only oxide zone from 32 m - 80 m depth, where copper has been largely leached out of the system as evidenced by abundant limonites, boxworks, hematite and minor copper oxides as weathered products of pyrite, magnetite and chalcopyrite respectively. The host rock in the leached zone is characterized by texturally destructive intense argillic and sericitic alteration. The oxide portion of the drill hole has an intercept of 48 m of 1.15 g/t gold and 0.18% copper (Figure 3). The boundary between the oxide and hypogene sulphide mineralization is sharp and occurs over a 4 m wide zone, where secondary chalcocite copper mineralization is observed between 76 m - 80 m depth. The sulphide mineralization observed in drill hole 22MAR-014R is characterized by pyrite and chalcopyrite both disseminated and in veinlets within the host dioritic intrusion and within magnetite breccia bodies. The sulphide portion of the drill hole has an intercept of 50 m of 0.74 g/t gold and 1.16% copper from 80 m - 130 m (Figure 3).
ON BEHALF OF THE BOARD,
CEO & Chair
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Analytical samples were taken using 1/8 of each 2m interval material (chips) and sent to
True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.
Canadian mineral terminology and standards differ from those of other countries. The Company's public disclosure filings highlight some of these differences.
Forward Looking Information
This release includes certain statements that may be deemed 'forward-looking statements'. Forward-looking information is information that includes implied future performance and/or forecast information including information relating to, or associated with, exploration and or development of mineral properties. These statements or graphical information involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. See
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