Palmarejo expands La Patria prospect

Palmarejo Silver and Gold (PJO-V) has tabled its first resource estimate for the La Patria silver-gold deposit in Chihuahua state, Mexico, while drilling on several prospects along the La Patria structure is expanding the known mineralized zones.

The La Patria zone holds an inferred resource of about 3.6 million tonnes grading 35 grams silver and 1.5 grams gold per tonne, according to the estimate by Nevada-based consulting firm Mine Development Associates. The resource is based on a cutoff grade of 0.8 grams gold-equivalent per tonne, with 55 grams silver equal to 1 gram gold.

The La Patria structure is a southeast-striking fault with epithermal silver and gold mineralization along a 1.7-km strike length. Previous work has defined three prospects, La Patria at the northwest end, La Virginia, and Maclovia at the southeast end. The resource estimate, from 60 core and reverse-circulation holes, considered material down to a 200-metre vertical depth.

Subsequent drilling on the same structure has expanded the zones, particularly at La Virginia, where holes cut several wide near-surface intersections. Diamond drill holes down-dip from known mineralization have picked up the structure beyond 200 metres vertical depth.

Hole LPDH-063D, drilled at depth on the southern part of the La Virginia zone, intersected 24 metres at an average 3.6 grams gold and 43 grams silver per tonne in stockwork material. Another, 062D, drilled at depth on northern La Virginia, cut 8.8 metres of quartz-vein breccia grading 1.1 gram gold and 5 grams silver per tonne.

Deep drilling to the northwest of La Patria cut separate zones of 1 metre grading 15.5 grams gold and 85 grams silver per tonne and 8 metres running 2.2 grams gold and 27 grams silver per tonne in quartz-vein breccia.

Palmarejo has resumed drilling on the project.

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