Results from five reverse-circulation drill holes at the Cerro San Pedro gold-silver deposit are providing encouragement to Metallica Resources (TSE).
The best hole drilled on the property, which is near San Luis Potosi, Mexico, penetrated the central Mendez zone and intersected 206 metres grading 1.44 grams gold per tonne and 45.7 grams silver. This hole, which ended in mineralized material, both confirms and expands the resource calculated by previous work.
Metallica has now received assays for 3,700 metres of its planned 10,000-metre program. The company will continue to focus on numerous targets within the Mendez, Abundancia and Barreno zones.
Previous drilling by a Mexican company in 1990-91 defined a potential resource within the Mendez zone of 38.6 million tonnes grading 0.8 gram gold per tonne and 24 grams silver. This material is believed to be amenable to open-pit mining and heap leaching.
A prefeasibility study will be completed by year-end, which will include a resource estimate.
Metallica’s latest drill results are as follows:
Hole Interval Width Gold Silver
(m) (m) (g/t) (g/t)
47 182-294 112 0.52 6.8
48 0-74 74 0.92 19.5
49 0-68 68 1.14 12.2
49 230-294 64 0.87 5.6
50 100-306 206 1.44 45.7
51 12-46 34 1.57 65.4
51 108-118 10 0.87 9.2
51 130-258 128 0.90 N/A
51 272-306 28 0.66 N/A
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