Diamond drilling by Farallon Resources (FAR-V) at the Campo Morado property in Mexico has intersected massive sulphides with significant values of gold and silver mineralization.
The 277,335-ha property lies in the prospective Teloloapan Subterrane, a region in Guerrero state known to host numerous volcanogenic massive sulphide deposits.
Systematic core drilling of the initial target, the Reforma deposit, is outlining a large, massive sulphide deposit which strikes northwest and dips moderately (10-50) to the southwest.
More than 10,000 metres of drilling in 54 holes has been completed and drilling with three rigs is ongoing.
To date, 18 holes have been found to intersect a gold-silver massive sulphide horizon overlain by a copper-silver massive sulphide horizon. Seventeen gold-silver massive sulphide horizon intersections average 23.5 ft. grading 0.15 oz. gold and 7.03 oz. silver per ton, as well as 5.74% zinc, 2.1% lead and 0.51% copper. Nine copper-silver massive sulphide horizon intersections average 23.5 ft. grading 2.73% copper and 1.36 oz. silver.
Results to date are from an area measuring 200 by 260 metres.
“It looks very good,” Farallon spokesman Robert Jeffery told The Northern Miner. “Some of those assay results mean more than 1% copper.” The Teloloapan Subterrane is at least 65 km long by 15 km wide, and hosts at least 16 significant deposits and occurrences.
In a related development, Amarc Resources (AHR-V) has acquired the 134,704-ha Amatepec concession, adjacent to Campo Morado and Valerie Gold’s (VLG-V) Mamatla property.
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