Maya boosts Los Lirios

Vancouver — A second round of drilling by Spokane-based Maya Gold (MAY-V) has expanded the mineralized zone at the Los Lirios gold-rich porphry target in Southern Honduras.

Originally discovered in 1998, Los Lirios marks the first porphyry identified between Mexico and Panama. Three new holes have more than doubled the depth of the previously defined mineralization. Results include:

• Hole 12 — 213 metres averaging 0.53 gram gold and 0.25% copper from 33 metres down-hole;
• Hole 13 — 218 metres averaging 0.51 gram gold and 0.3% copper from 1.5 metre down-hole; and
• Hole 14 — 120 metres averaging 0.29 gram gold and 0.18% copper from surface.

Another hole extended the discovery hole by 112 metres and returned 180 metres averaging 0.62 gram gold and 0.29% copper from 3 metres down-hole.

The project is located near the Nicaraguan border, about 30 km south of Choluteca. A total of 14 diamond drill holes and nine reverse-circulation holes have been drilled on the zone.

Maya originally picked up the El Triunfo concession, which hosts Los Lirios, because it is favourably situated along the Central American coastal mineral belt. This trend, which hosts a number of substantial gold deposits, extends from Costa Rica through Honduras and into El Salvador.

The junior subsequently identified Los Lirios, an area of hydrothermally altered volcanic rocks, measuring 5 km in diameter, where erosion has exposed strongly altered andesites with hydrothermal brecciation.

Soil-sampling over the showing marked a copper-gold-copper anomaly measuring 1.5 km by 500 metres.

The initial drill program outlined significant mineralization over an area measuring 500 metres by 900 metres. Mineralization occurs as disseminations and stockwork fracture fillings in andesite and in underlying tonolite porphyry intrusive.

Billiton-BHP funded the latest program. The major can earn a 51% undivided interest in Los Lirios by spending $2.25 million on exploration. It can boost its stake to 70% by providing project financing.