A 1,600-metre diamond drilling program is under way on the Mamatla concession in south-central Mexico, held by Valerie Gold Resources (VLG-V).
The 160-sq.-km concession straddles the boundary between the states of Guerrero and Mexico. The first phase of the drill program will test the Manto America gold-silver geochemical anomaly, situated in the north-central part of the property.
Soil geochemical sampling conducted in late 1997 identified a series of gold and silver anomalies over a strike length of 1,500 metres. A 600-metre-long zone returned gold values in the range of 100 to 876 parts per billion (ppb), with associated silver values ranging up to 7,800 ppb. Thirty-one rock chip samples of felsic volcanics, taken from the two-metre-high walls of two historical adits, averaged 1.21 grams gold and 67.8 grams silver per tonne.
Recent grab samples from nearby outcrops of silicified felsic volcanics yielded values up to 3.2 grams gold and 1,780 grams silver.
The silicified felsic unit coincides with a 100-metre-wide soil anomaly and has been traced for more than 500 metres along strike. Approximately 800 metres of drilling will test the Manto America prospect. The drilling program is being carried out under the supervision of TVX Gold (TVX-T).
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