Pediment outlines 1.45-million oz. resource at San Antonio

Vancouver – In just over a year, Pediment Exploration (PEZ-V) has sussed out a 1.45-million ounce gold resource at its San Antonio project in Baja California Sur, Mexico.

Pediment holds more than 20 km of the north-south trending San Antonio shear zone. Near the north end of the trend sits Los Planos, a gold zone that Echo Bay now Kinross Gold (K-T, KGC-N) explored in the late 1990s but for which a resource had not been calculated, until now.

In the upper oxide layer Los Planos hosts 10.54 inferred million tonnes grading 1.18 grams gold per tonne; the lower sulphide zone is home to an inferred resource of 20.04 million tonnes averaging 1.4 grams gold. Combined, oxide and sulphide mineralization at Los Planos holds 1.3 million oz. gold, using a 0.4 gram gold cut-off grade.

A few kilometres south along the trend is the historic Las Colinas deposit where mineralization is hosted within shallow-lying fault zones contaiing disseminated and veinlet sulphide minerals. An updated resources estimate there adds 5.62 million inferred tonnes of combined oxide and sulphide mineralization at an average grade of 0.83 gram gold, for 150,000 oz. gold.

The new resource estimates incorporate drill results to the end of 2007, but Pediment has since been busy. At Las Colinas, a series of shallow core holes tested the up-dip, near-surface continuation of the west-dipping, gold-bearing cataclasite unit to better define the oxide portion of the resource.

Hole 26 returned the most significant intercept: 52 metres grading 0.96 gram gold, essentially from surface, including 16 metres of 2.11 grams gold. Hole 25 returned 18 metres of 0.71 gram gold, starting 10 metres downhole. The results extend the zone to the east.

Up at Los Planos, drilling of late has been split between infill and exploratory step-out. In the eastern, up-dip portion of the deposit hole 92 cut 55 metres grading 1.62 grams gold from 39 metres depth, including 8.11 grams gold over 4.6 metres. At the west, down-dip end of the zone hole 85 returned 1.07 grams gold over 44 metres from 183 metres depth followed by 54 metres grading 0.62 gram gold from 234 metres downhole. And form the centre of the zone hole 87 cut 53 metres grading 1.47 grams gold.

Pediment is also awaiting the results of preliminary metallurgical testing from composite samples of reverse-circulation drill material, which will inform a preliminary economic assessment.

Perhaps most importantly, Pediment is still actively pursuing reconnaissance exploration, targeting the roughly 15 km of San Antonio gold trend within the company’s holdings that is still largely untested. The company completed its second large induced polarization survey , focusing on the area north of Los Planos to generate additional drill targets. IP generated the drill targets that led to discovery of Las Colinas.

News of the San Antonio resource boosted Pediment 14 to close at $1.63 in June 16th trading. The company has a 52-week trading range of 78 to $3.74 and has 40.8 million shares issued.