Vancouver — As part of an ongoing feasibility study,
The final 11 holes (2,200 metres) continued to target the high-grade epithermal Alejandra vein, returning further gold and silver values.
A total of 15,000 metres in 79 holes has been completed this year. Highlights include the following:
— Hole 142 — 35.5 metres (from 194.5 metres) grading 6.9 grams gold and 50 grams silver per tonne, including high-grade sections of 8.5 metres grading 23.6 grams gold and 154 grams silver, and 4.3 metres grading 30 grams gold and 207 grams silver;
— Hole 143 — 27.2 metres (from 175 metres) of 4 grams gold and 32 grams silver, including 11.4 metres of 6.3 grams gold and 47 grams silver and 2.8 metres of 9 grams gold and 64 grams silver;
— Hole 144 — 6.4 metres (from 262 metres) grading 10.2 grams gold and 71 grams silver, including 1.5 metres of 38.2 grams gold and 241 grams silver.
The low-sulphidation Alejandra vein has been drill-traced for more than 500 metres east-west. The structure averages about 6 metres in width with mineralization extending from surface to a depth of 300 metres.
An assessment in 2003 indicated strong economics for the high-grade Alejandra North zone, which has an inferred resource of 744,000 tonnes grading 18.3 grams gold and 146 grams silver, equivalent to 438,000 oz. gold and 3.5 million oz. silver.
Rio Blanco has an overall inferred resource of 5 million tonnes grading 5.5 grams gold and 42 grams silver, equivalent to 881,000 oz. gold and 6.7 million oz. silver in the Alejandro North and South zones and the Dorada zone.
International Minerals, which has other gold projects in Ecuador (and Peru as well), completed a $22.3-million financing earlier this year.
The company has 79.7 million shares outstanding and trades at $4.30.
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