Francisco boosts Marlin in Guatemala

Vancouver — The latest drill results tabled by Francisco Gold (FGX-V) have outlined a zone of oxide mineralization covering an area measuring 650 by 225 metres with an average thickness of 65 metres at the Marlin Target in Guatemala.

The program tested the mineralized extensions of the Main zone with 16 holes, while two holes were collared into the Los Cochis corridor, some 500 metres to the northwest.

Hole 53 and 60 were collared on the northern margin of the main target area returning 17 metres averaging 0.6 gram gold and 21.9 grams silver per tonne from 18 metres down-hole and 6 metres grading 1.71 gram gold and 3.8 grams silver from 35 metres down-hole, respectively.

Three holes tested the south-southwest edge all cutting significant widths of mineralization. Hole 57 returned 83 metres grading 1.48 grams gold and 32.4 grams silver from 17 metres down-hole, hole 62 averaged 1.98 grams gold and 40.2 grams silver from 61 metres down-hole and hole 63 returned 19 metres grading 0.93 gram gold and 12.4 grams silver from 65 metres down-hole.

Three holes tested the east-northeast extension, one hole targeted the western extension and the final two holes tested the Los Cochis area. Assay results from these holes are expected in two weeks.

The Marlin property lies 140 km northwest of Guatemala City and 60 km from the Mexican border. The project is part of a package of properties originally held by Montana Gold, a privately owned Canadian company. Since it began exploration work in Guatemala in 1996, Montana has staked more than 6,000 sq. km of mineral concessions along a major structural trend in the country’s western region. Francisco acquired Montana by issuing an initial 650,000 shares on closing the deal and if 1.5 million oz. gold-equivalent ounces are defined (proven and probable), it will issue up to 1.4 million more.

The Main zone is a low-sulphidation, epithermal system hosted in Tertiary volcanic and volcaniclastic rocks. The main “Marlin complex” comprises a series of massive-to-fragmental pyroclastic rocks, which host a large part of the Main zone’s high-grade mineralization. An underlying volcaniclastic sequence is composed of conglomerate-to-fine sandstone-siltstone rocks that can also host low-grade mineralization.