An updated resource estimate has tripled the size of the El Largo precious metals-polymetallic resource, one of several deposits at Farallon Resources‘ (FAN-T) Campo Morado project 160 km southwest of Mexico City, Mex.
The indicated El Largo resource stands at 4.1 million tonnes grading 1.12 grams gold, 128 grams silver, 0.4% copper, 5.8% zinc and 1.3% lead, while the inferred resource is 1.3 million tonnes grading 1.5 gram gold, 122 grams silver per tonne, 0.85% copper, 4% zinc and 0.8% lead.
This estimate used prices of US$375 per oz. gold, US$5.50 per oz. silver, US$1 per lb. copper, US51 per lb. zinc and US25 per lb. lead.
Drilling at about 50-metre spacing has firmed up almost three-quarters of the resource. The estimate used data from 87 holes (22,770 metres of core).
New results from El Largo include 5 metres grading 3.8 grams gold, 43 grams silver, 0.75% copper and 1.3% zinc starting at 65 metres downhole. This hole also hit 2 metres grading 1.6 grams gold, 77 grams silver and 2% copper and 1.5 metres grading 1.8 grams gold, 119 grams silver, and 1.2% copper.
Four additional holes failed to cut significant mineralization and a couple of holes cut 1-2-metre intervals grading 0.7-3.7 grams gold and 48-75 grams silver per tonne.
The primary El Largo sulphide deposit is over 700 metres in length, 50-200 metres wide and 10-100 metres thick. In addition to this El Largo comprises nine smaller bodies.
El Largo was one of the smaller inferred deposits. Other known deposits with inferred resources (Reforma, Naranjo and El Rey) are currently being drilled, as well as new exploration targets (for example G9 and Estrella de Oro).
G9 drilling was highlighted by 14.9 metres grading 1.06 grams gold, 67 grams silver, 1.76% copper, 0.7% lead and 14.16% zinc. This interval included a 10-metre intercept grading 1.4 grams gold, 91 grams silver per tonne, 1.96% copper, 0.97% lead and 17.9% zinc.
The resource of the El Rey deposit has been given a boost; hole 424 cut 17 metres grading 2.14 grams gold, 201 grams silver per tonne, 0.47% copper, 1.3% lead and 4.8% zinc. This interval includes 9 metres grading 3.5 grams gold, 281 grams silver, 0.5% copper, 1.65% lead and 5.5% zinc.
Another hole cut 10 metres grading 1.5 grams gold, 57 grams silver, 0.4% copper, 0.6% lead and 4.5% zinc.
Three of the El Rey exploration holes failed to cut significant mineralization.
Assays are pending for 24 exploration, and nine metallurgical, holes.
Since August of last year 101 holes, out of a total of 129, have cut massive sulphides. Twelve holes were drilled for geotechnical purposes and 34 holes tested known zones to garner metallurgical information.
Drilling is ongoing and Farallon plans to complete a pre-feasibility study on the project by year-end.
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