Vancouver — The assay results form the first 13 holes of a newly completed 1,600 metre drill program over the promising Rio Tabaconas property in northwestern Peru has returned some bonanza grade gold intercepts over narrow widths for junior IMA Exploration (IMR-V).
Targeting the main Cerro Tablon target, which is defined by rock-chip and soil sampling over an area measuring 600 by 200 metres, hole 1 was drilled to the north and cut 11.6 grams gold per tonne over 1.5 metres from 13.5 metres down-hole. About 10 metres to the west, hole 2 was also drilled northward and hit a 0.4 metre section running 44.1 grams gold from 39.5 metres down-hole. Collared 50 metres north-northeast of the first hole, hole 3 cut two bonanza grade intervals. The first was hit at 62.2 metres down-hole returning 50 grams gold over 0.7 metre, the second came at 105.8 metres down-hole returning 54.9 grams gold over 0.3 metre.
Holes 4 through 7 were drilled from the same site some 50 metres north of hole 2, with holes 4,6 and 7 drilled to the southeast. Hole 4 cut three lower-grade zones ranging up to 2.2 grams gold over 4 metres from 7.9 metres down-hole. Hole 5 was drilled to the north and failed to return any significant values, while hole 6 hit 21.4 metres grading 3.1 grams gold from 9.1 metre down-hole. Hole 7 cut 19.9 metres averaging 2.4 grams gold from 10.1 metre down-hole. Holes 8 and 9 were lost in overburden.
Holes 10 through 15 were collared 100 metres north of hole 1. Hole 10 was drilled southeast and failed to hit any significant values, while hole 11 and 12 were drilled to the northwest, with hole 11 returning 17.1 metres grading 5.3 grams gold from 12 metres down-hole and hole 12 intersecting 4.7 grams gold over 4.4 metres from 17.4 metres down.
The best results to date came from hole 13, which was drilled to the west and hit 25.4 metres grading 8.8 grams gold from 13.4 metres down-hole. This intersection included a 2.9-metre core length running 19.8 grams gold. Hole 14 was also drilled to the west, hitting 1.7 metres grading 5.5 grams gold from 17.7 metres down-hole. Hole 15, aimed north, yielded 5.9 grams gold over 6.4 metres from 12.8 metres down-hole.
Assay results from the remaining 17 holes are expected within the next two to three weeks.
Cerro Tablon is believed to be the source of gold-rich massive sulphide boulders, ranging up to 8 metres in diameter, which cut a 400-metre wide swath across the hillside and extend some 700 metres to the valley floor. Grab samples from 22 of the boulders returned gold values averaging 9.3 grams and ranging from 0.07 to 30.12 grams per tonne.
Soil sampling over the projected eastern extension of Cerro Tablon, where there is no outcrop, averaged 0.91 gram for 61 samples, excluding a peak value of 18 grams.
The mineralization at Cerro Tablon appears to be related to alteration developed in limestones and volcanics adjacent to an intrusive contact.
The Rio Tabaconas property covers 90 sq. km in the northern section of the Cajamarca gold-copper belt, 30 km from the border with Ecuador. The property lies at moderate elevations of 1,400 to 2,200 metres above sea level. The package of concessions centres on 28.9 sq. km of optioned ground, in which IMA, through its Peruvian subsidiary, can earn a 100% interest by paying US$1.5 million over seven years and spending US$525,000 on exploration over three years.
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