Vancouver – Tyler Resources (TYS-V) followed up a disappointing initial RC drill hole at its Bahuerachi copper project, in Chihuahua State, Mexico, with significant copper results from a core hole.
Assays from the latest diamond drilling reversed a market slide, by returning the widest copper-mineralized intercept yet encountered at Bahuerachi.
Core hole 04-BAH-15 intersected 143 metres (from 16 metres depth) averaging 0.71% copper, 0.22% zinc and 6 grams silver per tonne. Further downhole, a 5.6 metre intercept of breccia-skarn material (from 160.7 metres) averaged 2.15% copper, 0.62% zinc, 31 grams silver and 0.24 grams gold per tonne. The chalcocite enrichment zone was encountered from 28 to 60 metres depth and averaged 1.17% copper. The hole was ended in mineralization.
Testing and fine tuning of RC drilling is being implemented with twinning of core hole 04-BAH-15 next scheduled as a check of assay result variability.
The main mineralization at Bahuerachi is porphyry-style copper occurring within felsic intrusives. Associated zones of high-grade endoskarns and exoskarns occur along the periphery of the intrusive. Hydrothermal breccia mineralized volcano-sediments, of Cretaceous age, are thought to be related to later hydrothermal phases associated with the intrusion.
With its recent market action, the company has also seen the exercise of warrants from a recent financing, resulting in about $1-million in funds being added to the 2005 work program on Bahuerachi.
Tyler has 68.7-million shares outstanding, giving the issuer a market capitalization of about $82 million at its recent trading price of $1.20 per share.
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