Partners Cominco Resources International (TSE) and Rio Amarillo (VSE) report that drilling is progressing on their Chachacomiri silver project near Potosi, Bolivia.
Two diamond drill holes have been completed, and two more, on the Chacha zone, are under way. The structure, which measures 1,200 by 400 metres, features favorable rock alteration and an induced-polarization (IP) anomaly. Results from the first hole include 52 metre grading 68 grams silver per tonne, 1.9% zinc, 1% lead and 0.2% tin. The hole intercepted mineralization from 44 to 96 metres and was drilled to a depth of 254 metres. The second hole, drilled 150 metres along strike southwest of the first, showed only weak mineralization.
The third and fourth holes will test the zone to the northwest and farther to the southwest, where a strong IP response is coincident with sur- face mineralization.
Still more drilling will test the Illapunta zone (west of the Chacha) and the Khasapunta zone (to the southwest). Both zones are similar to the Chacha, featuring strong geochemical anomalies coincident with alteration and IP anomalies.
The property is owned by Toronto-listed Cominco (30%), Cominco Resources International (30%) and Rio Amarillo (40%). It encompasses 5 sq. km within a volcanic dacite dome complex, around which mineralized zones occur. In other news, Cominco Resources is holding off construction at the Mariquita copper project near Cananea, Mexico, pending a project review. The company is studying the possibility of increasing copper output to 21,000 from 15,000 tonnes per year from the planned open-pit, heap-leach, solvent extraction-electrowinning operation.
And in northeastern Turkey, at its half-owned Altintepe gold play, Cominco Resources has completed a 17-drill program. During the course of the 2,000-metre program, gold values were intersected in two silicified zones. Though subeconomic at this point, both zones are open along strike and at depth.
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