VANCOUVER — A new, previously unexplored target on the Cordero Sanson property has produced strong silver-gold drill results for joint-venture partners Levon Resources (LVN-V, LVNVF-O) and Valley High Ventures (VHV-V, VHVLF-O).
The first drill-hole results from the target, known as Pozo de Plata, intercepted as much as 152 metres grading 80.64 grams silver per tonne, 0.61 gram gold, 1.41% zinc and 1.22% lead in hole 5, starting 92 metres down-hole. The interval included a 72-metre portion grading 150.16 grams silver, 1.06 grams gold, 2.48% zinc and 2.27% lead.
Four other holes produced significant though shorter and less rich silver and gold intercepts. Hole 1, for example, returned 70 metres starting from surface grading 29.14 grams silver, 0.08 gram gold, 0.25% zinc and 0.15% lead.
About 2 km northeast of Pozo de Plata, operating partner Levon, which has an option to earn a 51% interest in the property from Valley High, also hit enticing intercepts of gold and silver at the better known Cordero Dome target. Hole 3 hit 20 metres of 88.34 grams silver, 0.14 grams gold, 1.9% zinc and 1.69% lead.
Mineralization at Pozo de Plata, a circular target about 1.5 km in diameter, occurs in a rhyolite dyke and diatreme complex. In hole 5, mineralization came in the form of medium-to coarse-grained sphalerite with galena, pyrite and fine tetrahedrite. The hole ended in limestone country rock.
To earn its 51% interest, Levon must spend $1.25 million by the end of February 2013; it has already spent more than $1 million.
At presstime, Levon traded at 41.5¢ in a 52-week range of 5-46¢, while Valley High traded at 50¢ in a 12-month window of 10-52¢. Levon has about 55.5 million shares outstanding and Valley High has 31.5 million shares outstanding.
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