VANCOUVER– Drilling in the northwestern corner of Nayarit Gold’s (NYG-V, NYRTF-O) Orion property, 110 km north of Tepic, Mexico, has returned 25 metres grading 6.63 grams gold per tonne and 500.9 grams silver in hole 95, starting 250 metres down-hole.
The results, the best to date, were from one of eleven holes recently released from the Animas and Del Norte zone as part of Nayarit’s ongoing 30,000-metre campaign.
Other highlights from the latest batch drilled on the eastern edge of the Animas and Del Norte zone included 12 metres grading 1.23 grams gold and 74.1 grams silver from 300 metres depth in hole 96, and 26 metres of 2.58 grams gold and 226.5 grams silver from 172 metres in hole 98.
The results add to those from 12 drill holes at the Animas and Del Norte zone released in early December, including 31 metres of 2.03 grams gold and 220 grams silver in hole 94.
In addition to its latest high-grade results, in late November Nayarit announced it had expanded the strike length of the structure hosting the Animas and Del Norte veins to at least 3 km after drilling two targets, one to the east and the other to the west.
About 1.4 km west at the San Francisco target, Nayarit hit 10 metres grading 2.18 grams gold and 89.45 grams silver. And 900 metres east of the Animas and Del Norte zone, Nayarit cut 15 metres grading 0.44 gram gold and 40.96 grams silver at the Pantaleona target.
Nayarit continues to drill in all three areas and says the results will form the basis of a resource estimate slated for completion by mid-2009.
Nayarit has 68 million shares outstanding and a 52-week trading range between 25¢ and 80¢. At presstime, it was trading at 57¢.
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