Cimarron Minerals (CIU-V) has begun field work in preparation for core drilling at the Schell Ranch volcanogenic massive sulphide property in central California.
The company expects to kick off a 4,000-ft. drilling program by the last week in June, pending the closing of a financing.
Cimarron is putting the finishing touches on a package of 2 million special warrants at 32 cents each, which is expected to close June 15. As much as $250,000 of the proceeds will be allocated to Schell Ranch.
Drilling at the property will test the area surrounding hole SR-15, where, in 1987, a previous operator intersected 17 ft. of massive sulphides grading 10.8 grams gold and 335 grams silver per tonne, plus 3.45% copper and 20.5% zinc, at a depth of 170 ft., Follow-up drilling failed to track the easterly dipping mineralized zone to the surface, along strike or down plunge. Much of the later drilling tested footwall mineralization.
Mineralization at Schell Ranch is believed to be associated with a rhyolitic dome complex.
Cimarron President Tom Evan says detailed stepout drilling — initially, drillholes will be collared as little as 30 metres from the discovery hole — will be designed to decipher the area’s complex geology. “It’s critical with lenticular deposits like this to have short stepouts,” he notes.
Evans believes there is “lots of blue sky” along the 6,000-metre-long massive sulphide horizon.
Additional funds from the financing will be used to advance two of Cimarron’s other California projects, Suitcase-Mineral Hill in the southern part of the state and Eva Belle in the east.
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