Monarch confirms potential in Durango

Reverse-Circulation drilling at the San Agustin property in Mexico’s Durango state has intersected wide zones of gold and silver mineralization.

Monarch Resources (MRE-T), which is in the process of acquiring the 4,800-Acre property, has defined a 1,600-by-400-Metre zone of mineralization with bulk-Mining potential.

Overall, the 35-hole program returned low values of gold and silver. However, individual holes intersected significant widths of mineralization. Hole SA-34 encountered 184 metres grading 1.7 grams gold and 18 grams silver per tonne from surface. The top 50 metres of the interval ran 4.2 grams gold and 46.6 grams silver. Hole SA-35 cut 171 metres of gold mineralization grading 0.78 gram from surface.

Many of the holes also encountered enriched zinc values averaging 0.5% zinc, particularly within the sulphide mineralization.

Monarch has conducted extensive soil and rock chip sampling over the property, which features mineralization associated with an altered dacite porphyry dome.

Paul Rose, vice-president of exploration, is encouraged about the zinc values associated with the grassroots play. “In my opinion, the zinc values could be as important as the gold and silver values,” he says.

The company is in the process of twinning selected holes with a core rig in an effort to confirm the latest results. This latest round will test for mineralization to a depth of at least 250 metres. (Holes adjacent to hole 34 have already been completed to a depth of 248 metres.)

Assay results are expected in August, and a second phase of

reverse-Circulation drilling is scheduled for September.