Essex drilling expands Bolivian deposit

Diamond drilling by Essex Resource (ESX-V) has expanded a volcanogenic massive sulphide (VMS) deposit at the Miguela concession in western Bolivia.

The company has confirmed that mineralization in the A zone extends along strike for more than 300 metres. Stepout holes have traced the mineralization to a depth of more than 150 metres.

To date, four holes have been drilled in the 4,000-Metre program.

Hole 25 intersected VMS mineralization 100 metres northwest of, and 110 metres downdip from, hole 13, which was drilled last year. Hole 25 returned 14.2 metres (from 158.3 to 172.5 metres) of banded and massive sulphides with an overall grade of 0.73 gram gold and 7.9 grams silver per tonne, as well as 0.9% copper and 0.39% zinc. A 3.9-Metre section (from 168.6 to 172.5 metres) graded 0.93 gram gold, 13.2 grams silver, 1.9% copper and 0.47% zinc.

Hole 26 intersected VMS mineralization 180 metres northwest of, and 150 metres downdip from, hole 4, which was also drilled last year. Hole 26 intersected four mineralized layers between 159.9 and 177.2 metres.

The most significant intercepts include 3.5 metres (from 165.1 to 168.6 metres) grading 1.4 grams gold, 12.1 grams silver, 3.3% copper and 0.14% zinc (including 0.4 metre grading 4.3 grams gold, 35.6 grams silver, 10.2% copper and 0.6% zinc). That hole also returned 2.1 metres (from 172 to 174.1 metres) grading 0.8 gram gold, 5.5 grams silver, 1.1% copper and 3.15% zinc.

This year’s drilling is focused on the Miguela A-1 horizon, where previous holes encountered VMS mineralization over a strike length of more than 300 metres.

Two drill intersections with stepouts of 100 metres and 180 metres indicate that VMS mineralization continues downdip to a depth of at least 250 metres.

It remains open at depth and along strike. Diamond drilling continues to define the deposit’s dip and strike extent.

In addition, a reverse-Circulation drill program will evaluate a near-surface oxide gold deposit that overlies the VMS deposit.