Taurus uncovers Panamanian porphyry

Seven of nine holes drilled at the Ipeti concession in Panama have intersected low grades of gold and copper mineralization.

International Taurus Resources (ITS-V) says the results indicate the presence of a new porphyry system with numerous areas of unexplored potential.

The 1,582-Metre program tested several geological, geochemical and geophysical targets within a 1-by-2.5-km area overlying an altered diorite stock.

Drilling encountered low-grade gold and copper mineralization to a depth of 207.5 metres in hole 7. That hole returned five intersections, including: 10.3 metres grading 0.15 gram gold, 0.22% copper and 0.004% molybdenum; 21 metres grading 0.13 gram gold, 0.16% copper and 0.008% moly; 18.4 metres grading 0.24 gram gold, 0.17% copper and 0.019% moly; and 35.5 metres grading 0.1 gram gold, 0.17% copper and 0.008% moly.

Other highlights include hole 2, which returned 32.9 metres of 0.11 gram gold, 0.13% copper and 0.009% moly, as well as 4.5 metres of 0.77 gram gold, 0.29% copper and 0.014% molybdenum.

The program covered only a small portion of the overall drill target.

Mineralization remains open at depth, with exploration potential to the northwest and southwest.

The junior says the mineralization encountered thus far represents the outer edges of the porphyry system.

Ipeti is one of three Panamanian concessions in which Taurus is earning a 75% interest under a joint-Venture option agreement with Aluviales de Panama, a wholly owned subsidiary of International CanAlaska Resources (ICA-V).