MINING IN MEXICO — Great Lakes makes discovery at Palmarito

At the Palmarito project in Mexico’s Sinaloa state, Great Lakes Minerals (TSE) has identified an area with significant gold and silver values.

The mineralized area has a strike length exceeding 600 metres and ranging in width from 25 to 100 metres. It is centered on old mine workings developed in the early 1900s. Of 98 channel, chip and panel samples, almost half graded more than 100 grams silver and averaged 0.47 grams gold per tonne. Reported assays range between 0.11 and 1.29 grams gold and 140-530 grams silver per tonne.

The mineralization is associated with a highly fractured, sheared and intensely brecciated zone with a known strike length of more than 4 km. Great Lakes is carrying out a 15-hole program to evaluate the zone further. The company can acquire the 832-hectare property by spending US$250,000 on exploration over the next 18 months and by paying US$1 million over the next four years. The current program is estimated to cost US$500,000.