Situated in the Jocoro mining district, the 205-sq.-km project is the site of four past producers, namely Encuentros, Hormiguero, Divisadero and Montecristo.
Two holes were drilled below the Hormiguero mine workings, which follow the Guadalupe vein.
The first intersected 12.55 metres grading 5.52 grams gold and 129 grams silver per tonne, plus 5.64% copper; included was a 7.45-metre section of 7.08 grams gold, 191 grams silver and 9.49% copper.
A second hole, 130 metres north of the first, intersected 8.3 metres grading 3.25 grams gold, 60 grams silver and 0.05% copper.
Silver values were capped at 200 grams per tonne.
Both holes intersected zones of silicification anomalous in gold and silver and greater than 25 metres in width. Base metal content increased at depth. The Guadalupe vein was intersected at a depth greater than expected, probably as a result of faulting.
Two holes were drilled 300 metres northwest of Hormiguero into the Gigante target. Wide zones (19-25 metres long) of silicification and quartz veining were intersected, the highlight being 1.37 grams gold and 253 grams silver over 0.5 metre.
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