Glamis drops option on Mexico’s Jojoba

Following completion of a 21-hole drill program on the Jojoba gold prospect in Mexico, 87 km south of Nogales, Glamis Gold (TSE) has opted to drop the property.

The company held an option to earn a 75% interest from Aquiline Resources (VSE).

Aquiline, for its part, plans to continue working on the property and says it will consider joint-venture proposals.

Drilling indicates the gold zone strikes northwest, dips gently to the west and plunges moderately to the south.

Glamis focused on a 650-by-1,970-ft. zone which returned several oxidized gold values.

Significant drill results are shown below:

HoleIntervalWidthGold

(ft.)(ft.)(oz./ton)

1085-180950.056

2040-115750.041

4120-165450.028

5110-145350.077

8085-125400.023

9125-160350.036

10110-170600.041

1110-30200.032

12000-1801800.030

13170-195250.046

15115-165500.029

16205-3051000.100

19165-2801150.026