Vancouver – The first lateral step-out holes at Tyler Minerals’ (TYS-V) Bahuerachi project, in Chihuahua State, Mexico, indicate increased widths on the Main zone.
Core hole 28 returned a 161-metre intercept (from 33 metres) averaging 0.5% copper, 8 grams silver per tonne and 0.24% zinc in a sequence of mineralized sediments, skarn and porphyry. Further down-hole, a 26-metre interval graded 1.35% copper, 0.1 gram gold per tonne, 34 grams silver and 1% zinc in the breccia-skarn zone.
Hole 31 cut 193 metres of 0.6% copper, 9 grams silver and 0.4% zinc in the sediment-skarn-porphyry zone, followed by a deeper 59 metres of 1.3% copper, 0.1 gram gold, 22 grams silver and 1.1% zinc in the breccia-skarn.
The latest drilling has traced mineralization across a 200-metre width on the 900-metre long system. Drill depths ranged from 110-225 metres.
Tyler is mobilizing a larger rig to the site to remedy problems associated with difficult ground conditions. The latest holes were terminated prior to reaching target depth.
The Main zone at Bahuerachi is a large mineralized porphyry complex with three types of identified mineralization. Low-grade copper occurs in an enriched oxide blanket within a volcanic-sedimentary sequence hosting the main intrusive complex. The second type occurs as extensive, high-grade breccia and skarn within and on the edges of the main porphyry. Thirdly, mineralization also occurs as low-grade stockworks and as disseminations within porphyry itself.
Trading in the Calgary-based company’s stock rallied on the news, gaining 9% to $1.10 per share on volume of almost 700,000 shares. With 78 million shares outstanding, Tyler posts a market capitalization of $86 million.
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