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Highlights
Hole SRA-22-003 returned27.5-meters of 0.5 g/t Au, including 12.2-meters of 1.1 g/t Au, from 21.4-meters depth
Confirms exploration model ofat and near-surface oxide gold mineralizationconnected to underground workings
All threedrill holescontain quartz veiningandalteration associated with robust mineralized systems
Seven drill holes are pending results from two separate areas, 200-meters apart
Table 1. Summary of SRA-22-003 Results
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
SRA-22-003 | 0.0 | 48.8 | 48.8 | 0.30 | 0.5 |
including | 21.4 | 48.8 | 27.5 | 0.51 | 0.8 |
including | 29.0 | 48.8 | 19.8 | 0.71 | 1.0 |
including | 35.1 | 47.3 | 12.2 | 1.14 | 1.4 |
including | 35.1 | 36.6 | 1.5 | 4.73 | 2.0 |
For a detailed discussion on these 3 drill holes, view here:
"To hit significant mineralization in the first round of drilling at
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Figure 1.
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Figure 2.
Discussion
SRA-22-001–Azimuth 080, Dip -45o, Total Depth 198.3m
This hole targeted the northern flank of the Las Guijas underground workings. Although no significant mineralization was intersected, ananomalous zone from surface to 9.2-metersdepth was encountered followed by anoxidized quartz vein zone from 36.6-meters to 45.8-meters. This vein zone returned anomalousAu, Ag, As, Sb and W,averaging 0.1 g/t Au, 3 g/t Ag, 339 ppm As, 134 ppm Sb and 60 ppm W. A largefault zonewas encountered at64.1-meters to 77.8-meters followed by an oxidized vein zone to 102.2-meters. Altered and oxidized metasediments were found in the footwall of the fault zone transitioning to less oxidized quartzites and metasandstones to the end of the hole.
SRA-22-002–Azimuth 110, Dip -45o, Total Depth 41.23m
This hole targeted the down dip projection of mineralization seen at the Las Guijas underground workings. Anomalous gold was intersected from surface to 7.6-meters depthwithvalues up to 0.5 g/t Au over 1.5-meters. Aquartz vein zone was intersected starting at 33.6-meterswith coincidingelevated Au and pathfinder elements (As, Ab and W), at 36.6-meters a large void was encountered thought to be an unknown extension of the underground workings. The hole was stopped at 41.2-meters at the other side of the void to avoid complications with RC drilling.
SRA-22-003–Azimuth 110, Dip -55o, Total Depth 149.5m
This hole was placed as a step back to SRA-22-002 to avoid hitting underground workings and test the down-dip projection of mineralization, thought to be shallowly dipping in a western direction from the exposed workings. A zone of anomalous gold was intersected from surface to 13.7-meters depth.At 21.4-meters anomalous values of gold were again encountered transitioning into a quartz vein zone from 35.1-meters to 50.3-meters depth. The quartz vein zone returned the highest gold values averaging12.2-meters of 1.1 g/t Au from 35.1-meters depth, including 1.5-meters of 4.7 g/t Au. Through the vein zoneanomalous pathfinder elements were recorded averaging 1 g/t Ag, 315 ppm As, 79 ppm Sb and 50 ppm W. Below the vein zonealtered diorite continued until 76.3-meterswhere a fault zone was followed by altered metasediments until the end of hole.Elevated zones of Au, Ag, As, and Sb suggest the metasedimentary units have the potential to host mineralization.
About the El Picacho Property
The
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Figure 3. Overview map of the
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Figure 4. Schematic Cross-Section of The El Picacho Exploration Model.
About the Pilar Property
The
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC DrillingHighlights include (all lengths are drilled thicknesses
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
16.5m @ 53.5 g/t Au and 53 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
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Figure 5. Map of
About
Quality Assurance / Quality Control
RC chips and core samples were shipped for sample preparation to ALS Limited in
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