BHP, Francisco net opper at Coahuila

Initial drilling on the Coahuila project in northeastern Mexico is returning copper-silver values for Francisco Gold (VSE) and BHP Minerals.

Copper-silver mineralization at Coahuila is stratiform and sediment-hosted, and BHP’s initial program is testing outcrop areas on the property. Previous sampling work on the outcrops returned values of 2% copper and 31 grams silver per tonne over thicknesses of 8-15 metres.

Francisco reports that BHP’s initial phase of reconnaissance drilling on two outcrop areas, including the Granizo and San Antonio, met with some accessibility problems. As a result, most of the drill holes penetrated only partial sections of the targeted sedimentary horizon.

Three holes intersected the zone at the Granizo area, including: 6.09 metres grading 1.12% copper and 19 grams silver; 10 metres grading 1.14% copper and 17.4 grams silver; and 7.6 metres grading 0.89% copper and 17.4 grams silver.

BHP also carried out widely spaced reconnaissance diamond drilling away from the outcrops, intersecting 5.8 metres grading 0.66% copper and 11.6 grams silver from 301 to 306.8 metres in DDH-3, and 5.5 metres grading 0.08% copper and 1.12 grams silver from 155 to 160.5 metres in DDH-4.

BHP is continuing its reconnaissance diamond drilling to test the continuity of the mineralized horizon.

BHP is earning a 70% interest in the property from Goldeneye Explorations, a private British Columbia company, and Francisco holds the right to buy a 50.1% interest in Goldeneye.