Friday, 14th March 2008 (3240 views)

An ongoing exploration programme at the Moris property in northern Mexico has intersected high-grade gold in veins and zones, the company conducting the work has said.

Exmin Resources said 16 holes have been completed so far to a total depth of 3,696.8 metres. They are testing three targets identified by surface mapping and sampling in 2005 and 2006.

So far, the drilling has returned vein intercepts valued at 9.37 g/t gold over 1.5 metres and 8.93 g/t gold over 0.65 metres in the El Pilar zone. Wider zones of lower-grade mineralisation were also intersected, with values including 1.4 g/t gold over 11 metres.

Meanwhile, in the Balleza zone, a 50-metre wide zone of anomalous gold mineralisation was intercepted and partly sampled. The average gold grade returned from the 33.1 metres sampled was 0.67 g/t gold, Exmin said.

At the Tecolote zone, drilling returned results including 0.60 g/t gold over 40.75 metres and 1.05 g/t gold over 17.05 metres.

Exmin's executive vice-president of exploration Dr Craig Gibson said: "Assay results suggest that there is potential for the discovery of future resources at each of these target areas."

In addition to the Moris exploration project, Exmin also operates the Moris mine, where 25,000 ounces of gold were produced in the third quarter of last year.

 

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