Revolution Resources (RV-T) has hit high-grade gold and silver below the historic Cinco Estrellas mine at its Universo project and discovered new prospects at its La Bufa property.
At Universo, hole 10 hit 4 metres grading 11.98 grams gold per tonne and 54.8 grams silver per tonne from 75 metres downhole; hole 6 cut 4.6 metres of 4.38 grams gold and 17.5 grams silver from 25.6 metres downhole; and hole 16 hit 4.4 metres of 1.31 grams gold and 18.22 grams silver from 86.6 metres.
The company says the results suggest the presence of a hydrothermal gold-silver system similar to other mines in the region. The 3,500-sq.-km Universo property sits in an area of prolific Mexican precious and base-metal production, with Goldcorp’s (G-T, GG-N) Camino Rojo gold-silver project and Penasquito gold-silver mine located to the north, while Grupo Mexico’s Charcas zinc mine and New Gold’s (NGD-T, NGD-X) Cerro San Pedro gold-silver mine are to the south.
Several holes at Universo hit mineralization within caliche overburden, including hole 12 that hit 16.8 metres grading 0.6 gram gold and 14.17 grams silver from surface, and hole 13, 75 metres north, that hit 14.9 metres of 0.34 gram gold at surface. Revolution states that these strongly anomalous gold and silver values suggest potential for undiscovered structures under overburden.
Revolution has previously disclosed the results of 188 underground channel samples from the Cinco Estrellas mine, which ranged from 0.002 gram gold to 566 grams gold and averaged 6.9 grams gold. The company continues to sample and map at Universo to refine new targets, including Chiqui, 15 km south of Cinco Estrellas, and Salitrillo, 35 km to the northwest.
Meanwhile, at Revolution’s La Bufa property in southwestern Chihuahua State, the company has found three gold-silver-copper-molybdenum-bearing surface prospects through sampling.
At the Don Julio target 1 km northeast of the historic Carmen mine, Revolution has traced gold, copper and zinc for 1,500 metres along strike through grab sampling. Overall, 10 of 17 grab samples assayed between 1.7 grams gold and 15.7 grams gold, and averaged 6.22 grams gold. Nine of 17 samples graded between 0.1% and 1.25% copper, averaging 0.64% copper. Gold-bearing copper oxide quartz veins and small artisanal mines were also discovered at the target.
At the Hornitos zone, the company has made a new molybdenite discovery, with five of 21 grab samples grading between 0.086% and 0.254% moly. And at the Panalito target, 800 metres northeast of the past-producing Carmen mine, several samples showed abundant copper oxides. Grades ranged from trace to 10.6%, with the 15 samples collected averaging 2.08% copper within an 800-by-400-metre area. Samples also contained gold and silver at up to 2.38 grams gold and 15.15 grams silver.
The 180-sq.-km La Bufa property sits 30 km east of Goldcorp’s El Sauzal mine. The historic Carmen mine on the property produced 1 million tonnes grading 2.5% copper, 2.9 grams gold and 2.8 grams silver between 1947 and 1958. Revolution plans to follow up on the newly identified targets with more sampling and mapping in the months ahead.
Revolution has hovered around 14¢ in recent weeks with 90 million shares outstanding, or 110.5 million fully diluted. As of May the company had $5.5 million in working capital.
The company also holds property in North Carolina.
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