Joint-venture partners Jonpol Explorations (TSE) and T & H Resources (TSE) report that a reverse circulation drill program has commenced at La Viruela gold property, 210 km southeast of Hermosillo, in the Mexican state of Sonora.
The program, estimated to cost US$200,000, is being financed by San Fernando Mining, which is earning an 80% interest in the property through payments and exploration expenditures of $975,000.
Geochemical surveys and shallow drilling by previous operators outlined a geological resource, in three mineralized zones, of more than 2 million tonnes grading 1.5 grams gold per tonne. Indications are that this resource is amenable to bulk mining and heap leaching.
Nearby, Placer Dome (TSE) is developing the Mulatos gold deposit which has estimated reserves of 80 million tonnes grading 1.5 grams gold.
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