Vancouver – San Antonio keeps on growing for Pediment Exploration (PEZ-V), with drills on the Los Planos zone consistently returning significant gold oxide intersections followed by mixed oxide-sulphide mineralization from a target that expands with every step-out.
Los Planos, part of the San Antonio project in Mexico, is a north-south trending zone within the San Antonio shear zone that extends to surface under shallow cover and has a down-dip length of more than 300 metres. The zone is thought to be a northern continuation of the historic Las Colinas deposit, though to date Los Planos has displayed higher grades and larger thicknesses.
Four recent drill holes continued to test the southern extension of Los Planos. All four cut shallow intersections of oxide mineralization followed by deeper primary gold intersections. Hole 25 returned 88.2 metres grading 2.44 grams gold per tonne from 64 metres downhole, including 19.8 metres grading 5.1 grams gold. Hole 24, 50 metres west, cut 125 metres of mineralized shear, including 82 metres of 0.99 gram gold from123 metres depth.
Holes 16 and 17, the most southerly holes to date, also encountered mineralized shear. Hole 16 returned short oxide intervals followed by 51.8 metres grading 1.7 grams gold from 121 metres downhole, while hole 17 hit 30.5 metres grading 1.3 grams gold in the near-surface oxide layer and then cut 88.4 metres of 1.05 grams gold from 167 metres depth in the sulphide zone.
Pediment is also conducting infill drilling in the central part of Los Planos to bring the drill spacing to 50-metre intervals. Results from infill drilling are typical for the zone: hole 21 intersected 57.9 metres of 1.11 grams gold from the oxide zone followed by 51.8 metres of 2.09 grams gold from the primary mineralization.
The Los Planos strike has now been traced for 1,000 metres, still open. The zone also remains open to the east (up-dip) and the west (down-dip). Expansion drilling to the east has revealed a series of post-mineral faults that have dropped and effectively extended the mineralized system within a set of fault-bounded, near-surface subzones of oxidized mineralization. Hole 14 returned 33.5 metres of 0.59 gram gold from 25 metres depth, followed by 16.8 metres of 0.59 gram gold from 66 metres.
San Antonio is located on the Baja Peninsula, 40 kilometres southeast of the port city of La Paz. Gravel roads and a high voltage power line traverse the property. The projects main deposit is Las Colinas, which hosts a non-NI43-101 compliant estimate of 340,000 oz. contained gold. Las Colinas lies 500 metres to the south of Los Planos within an off-set portion of the same north-south trending structural corridor.
Pediment started drilling at Los Planes in May 2007 and pulled four diamond core holes. Due to problems with drill penetration the company the switched to RC drilling, and has to date completed 10,500 metres.
In the late 1990s Echo Bay Minerals, now Kinross Gold (K-T, KGC-N), explored the Colinas deposit with a 31-hole RVC drill program that gave a resource estimate of 10.6 million tonnes grading 1.02 grams gold.
Pediment moved up 44 or 14.6% on the Nov. 2nd drill results, on a volume of 947,000 shares traded. The company has 33.6 million shares issued and has a 52-week trading range of 38 to $3.50.
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