Vancouver – Heavily promoted Tyler Resources (TYS-V) saw much anticipated assay results from the initial hole of its second phase drill program at the Bahuerachi copper project in Chihuahua State, Mexico.
Assays from the reverse circulation (RC) drill hole did not quite live up to market expectations, that saw the company’s share price dramatically rise on high volume prior to announcement of results, and the issue gave back significant ground on equally high volume.
Hole 04-RC-1 cut 30.4 metres (from 64 metres) grading 0.28% copper, including the chalcocite enrichment blanket. Further downhole, 15.2 metres (from 109.5 metres) of RC cuttings sampled skarn mineralization that averaged 0.25% copper.
The RC hole, a twin to previous core hole 04-BAH-13, and was drilled parallel and two metres from it. The core hole, drilled earlier in 2004, had returned 23.75 metres grading 0.41% copper.
The disparity between the two holes is being explained by Tyler as resultant of RC drilling processes where material loss of fines occurs. Within the chalcocite blanket zone, the copper mineral occurs as soft coating on pyrite grains.
Testing and fine tuning of RC drilling will be conducted with twinning of other core holes to act as a check. Usage of a larger down-hole hammer is expected to increase the chip size, reducing potential loss of the fines.
The main mineralization at Bahuerachi is porphyry-style copper occurring within felsic intrusives. Associated zones of high-grade endoskarns and exoskarns occur along the periphery of the intrusive. Hydrothermal breccia mineralized volcano-sediments, of Cretaceous age, are thought to be related to later hydrothermal phases associated with the intrusion.
Tyler first acquired its interest in the project in 1993, which is a 50-50 joint venture with fellow Calgary-based company CDG Investments (CDGI-C).
Tyler has 68.7-million shares outstanding, giving the issuer a market capitalization of about $62 million at its recent trading price of 90 per share.
Be the first to comment on "Tyler sees results from one Bahuerachi hole"