Drill results from a reported 43 of 52 core holes completed on the Marlin gold discovery in northern Guatemala have so far defined a thick, near-surface, shallow dipping main zone of oxidized gold mineralization along a 500-metre trend.
The latest batch of six step-out holes on the Main zone from third round of drilling on the property continues to yield encouraging results for
The potential of the eastern end of the zone was further tested by hole 39 (20 metres grading 5.1 grams gold and 32.8 grams silver) and hole 41 (17 metres grading 1.04 grams gold and 4.24 grams silver).
Stepping out 100 metres from the western boundary, Hole 38 cut 54 metres grading 1.64 grams gold and 4.5 grams silver. Subsequent holes 47, 48 and 52 all intersected similar intervals suggesting that zone is thickening to the west-southwest, reports Francisco.
Assay results from a further seven holes in the Main zone are pending.
The Marlin property is 140 km northwest of Guatemala City and sits in a major, east-west trending hydrothermal corridor, near the regional Motagua fault, which makes up the junction of the Chortis micro-plate and the North American plate. Low sulphidation, epithermal gold-silver mineralization is controlled by a series of shallow dipping thrust faults and splays. These faults are related to the regional east-west discontinuity and play a major role in localizing high-grade gold mineralization.
Several prospective targets have been defined outside the Main zone. Trenching has traced the Don Tello corridor, which lies south of and parallel to the Main zone, over a distance of 1,200 metres. Three holes (40, 43 and 44) tested more than 250 metres of strike along the corridor. Hole 40 intersected 37 metres grading 2.22 grams gold and 5.5 grams silver, hole 43 hit 20 metres of 2.29 grams gold and 8.4 grams silver, and hole 44 cut 20 metres of 1.2 grams gold and 6.3 grams silver. Results from two additional stepout holes on the zone’s western extension are pending.
Another zone taking shape is Los Cochis, where a total of eight hand-dug trenches have traced the zone for 400 metres. Results included 54 metres of 2.2 grams gold and 16 grams silver, 6 metres of 1.5 grams gold and 2 grams silver, 20 metres of 0.7 gram gold and 4.3 grams silver, and 26 metres of 4.3 grams gold and 8 grams silver.
The Marlin property is part of a 6,000-sq.-km land package held by Francisco along the projected strike of the Motagua fault. The company recently added to its holdings by staking 1,000 sq. km along the western extension of the fault system in Chiapas, Mexico.
During the current rainy season, Francisco will continue to evaluate its package of properties, advancing some of the prospects to the drill ready stage. The company has 16.3 million shares outstanding and $32.8 million in cash.
Be the first to comment on "Francisco expands Guatemalan find (July 23, 2001)"