Extorre releases more bonanza grades from Cerro Moro

Vancouver – Two weeks after releasing initial results from its Zoe discovery, Extorre Gold Mines‘ (XG-T, XG-X) has released more very high-grade hits from the zone at its Cerro Moro project in Argentina.

Highlights include hole 1213 that hit 8.6 metres grading 39.9 grams gold per tonne and 4,056 grams silver per tonne from 136 metres depth, hole 1224 that cut 3.5 metres averaging 60.7 grams gold and 1,875 grams silver from 236 metres downhole, and hole 1226 that returned 1.8 metres carrying 162 grams gold and 2,316 grams silver from 260 metres depth.

The new results establish high-grade gold and silver occurrences over a 350-metre strike length and a vertical depth up to 240 metres. The potentially mineralized structure has been confirmed to span a 1,400-metre strike length, while 2 drill rigs are stepping out along a 2 km target zone.

Bryce Roxburgh, Extorre’s co-chairman, stated that “The new results are clearly outstanding, and confirm the continuity of mineralization at the Zoe discovery…Additional drilling is required, but Zoe is indeed a ‘game changer’ for the project and we are encouraged that our geologist’s advice is that the geological structure is strong and persistent along trend.”

The new Zoe discovery sits 2.5 km east of the Martine shoot at Cerro Moro along the same Escondida structure, with the mineralization at Zoe appearing to be typical of the known Escondida structure.

Earlier results from the Zoe target included 4.84 metres grading 64.6 grams gold per tonne and 7,530 grams silver per tonne from 89 metres depth, 2.8 metres grading 2.4 grams gold and 316 grams silver from 121 metres, and 1.3 metres averaging 13.4 grams gold and 1,750 grams silver from 139 metres depth.

The current resource for Escondida is 590,000 indicated tonnes grading 18.9 grams gold and 805 grams silver. The total inferred resource, incorporating several surrounding zones, is 1.97 million tonnes grading 3 grams gold and 190 grams silver. 

The company is spending roughly $2.5 million a month with a total of six rigs operating on multiple targets, and has about $33 million in the bank.

Extorre’s share price was up 71¢ or 8.2% to a new closing high of $9.32 on 1.4 million shares traded.