Geomaque cuts encouraging gold grades at its Chicharra property in Mexico

Geomaque Explorations (GEO-T) has found the continuation of the known mineralized trend at its San Francisco mine property in Mexico’s Sonora state.

Phillip Walford, vice-president of exploration, says gold mineralization in the newly drilled Chicharra area occurs in the same rock formations, and on the same trend, as other known occurrences on the property. The grades encountered at Chicharra are similar to those encountered at the San Francisco mine.

The Chicharra area boasts several old outcrop showings in an area covered by alluvium. The area was explored seven years ago by a past owner, but no further work had been done until Geomaque’s recent drill program.

Four holes drilled along a northwest-trending structure beneath old workings intersected potentially significant gold values. The holes partially tested the structure along 400 metres of its length. Additional drilling is planned at Chicharra this month, while exploration drilling at the San Francisco mine continues.

“These results show that the gold mineralization extends well beyond the mine and that there is good potential to find additional gold resources in this area,” says Geomaque President John Paterson.

The San Francisco mine, which started up in March, is expected to be producing at the annual rate of 50,000 oz. gold by July. Proven and probable reserves stand at 6.9 million tonnes averaging 1.47 grams per tonne.

Gold mineralization at San Francisco occurs in tabular, stacked zones ranging up to 40 metres in thickness, and dips gently to the northeast. It is hosted primarily in granite or granite gneiss but also cuts across lithological units. Gold occurs primarily in free form in quartz tourmaline veins, stringers, breccias and disseminations.

The latest drill results from the Chicharra area are shown below.

Hole Interval(m) Width(m) Gold(g/t).

508 38-48 10 0.91 .

50-58 8 1.03 .

509 44-50 6 0.84 .

78-82 4 1.3 .

510 60-66 6 0.28 .

511 2-6 4 0.76 .

56-68 12 2.24 .

74-80 6 0.32 .