Diamond drilling is in progress at the Bramador property, 45 km southeast of Puerto Vallarta, Mexico.
The 1,000-metre program is testing the continuity and thickness of a massive sulphide horizon and the underlying gold-silver mineralization. Golden Band Resources (VSE) optioned the property from a Mexican subsidiary of Cominco Resources International (TSE) and can earn up to a 60% interest. The former can earn a 40% interest in return for an initial expenditure of US$225,000 on exploration plus payments of US$10,000 to Cominco and US$75,000 to the property owner. It can earn a further 20% by spending an additional US$325,000 on exploration and paying another US$225,000 to the owner. Cominco retains the right to back into a 50% interest.
Previous mining, between 1860 and 1910, produced 500,000 tonnes of oxide material, which was treated for gold and silver content. The old workings from that era appear to stop where sulphide material was encountered. Hole MJM9, drilled between 1984 and 1986 in the area of the current program, returned 26.9 metres of disseminated sulphide mineralization grading 1.67 grams gold and 25.47 grams silver per tonne, plus 0.33% zinc and 0.15% lead. Drill results from the current program are expected before mid-December.
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