Plata drilling hits zinc mineralization

Reverse-circulation drilling at the Helvecia property in northwestern Argentina has intersected deep mineralization on the downdip extension of known zinc-lead-silver showings.

Plata Mining (ASE) had examined 11 former-producing mines on the property and found that mineralization occurred at the contact between an underlying limestone unit and an overlying sandstone. The contact is brecciated and may be a fault plane. The breccia zone is up to 6 metres thick and dips westward.

A north-south line of 11 holes (representing 1,537 metres of drilling) was completed to make a “fence” section downdip from the old mines. Five of the holes encountered mineralization, and all 11 confirmed that the brecciated contact zone extends downdip and along strike.

A drill hole at the extreme south of the line, just downdip from the former Helvecia open-pit mine, intersected 3 metres grading 7.2% zinc, 3.4% lead and 38.5 grams silver per tonne. Another hole was drilled near the former El Halcon mine and encountered 6 metres of 5.7% zinc, 1.05% lead, and 35.5 grams silver per tonne.

Two holes at the north end of the line intersected 1-metre zones with grades of 2.4% zinc, 2% lead, and 15.6 grams silver per tonne, plus 2.1% zinc, 0.03% lead, and 2.2 grams silver per tonne. A hole on the north-central part of the line pierced a 1-metre interval with 14.2% zinc, 0.11% lead, and 64 grams silver per tonne.

Plata will be extending the program along strike and down dip. It plans to carry out 20,000 metres of reverse-circulation drilling, at an estimated cost of $2.7 million.

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