Noranda drops its option on Aquiline ground

After drilling five holes on the San Isidro copper property in Mexico’s Michoacan state, Noranda (TSE) has decided to drop its option.

The major held the right to earn a 51% interest in the property from Aquiline Resources (VSE).

One hole, drilled on the Cerro Pelon Breccia zone, returned a 250-metre intersection starting at surface grading 0.39% copper, including an 85-metre section grading 0.62% copper.

In the Cerro Verde stockwork area, hole 95-02 returned a 42-metre intersection grading 0.68% copper, while hole 95-04 returned a 64-metre intersection grading 0.43% copper. Hole 95-03 reportedly stopped short of reaching the projected extension of the zone, encountered in 95-02.

The fifth hole was drilled on an induced-polarization anomaly, south of Cerro Verde, and returned no significant values.

Drilling in the 1970s on the Cerro Pelon returned several wide copper intersections, including 303 metres grading 0.41% copper, 218 metres grading 0.45% copper, and 159 metres grading 0.44% copper.