Vancouver – All aspects of Soho Resources‘ (SOH-V) resource estimate for the Tahuehueto property in Mexico have improved, from size to grade.
A new resource for the property’s three primary structural areas – El Creston, Cinco de Mayo/associated zones and El Rey – incorporates 71 new drill-holes above and beyond those used in the last inferred resource that came out in April of 2008.
The latest data allowed Soho to upgrade most of the resource to the measured and indicated categories. Tahuehueto now weighs in at 7.4 million measured and indicated tonnes grading 2.1 grams gold per tonne, 34.97 grams silver per tonne, 0.28% copper, 1.06% lead and 2.01% zinc.
The April 2008 resource was 6.4 million inferred tonnes grading 1.34 grams gold, 31 grams silver, 0.24% copper, 0.78% lead and 1.43% zinc.
The property, which is in Durango State, is accessible by road, 9,081 ha. in size and 100% owned by Soho. Mineralization in the three structural areas is mostly in sulphides and near-surface.
Though Soho acquired Tahuehueto in 1997 it wasn’t until 2008 that Soho came out with its first resource estimate.
And while finding financing has been tough, this February Soho closed a $1 million private placement at 4¢ per unit with each unit comprising one share and one share-purchase warrant.
Since closing the private placement, however, Soho’s share price has appreciated considerably. On news of the resource estimate it lost 1.5¢ to close at 11¢.
Soho has 125.9 million shares outstanding.
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