Pacific Comox’ (PCM-V) move to bring in diamond drills to its Mabel property in Mexico’s Sonora State hasn’t yielded the results needed to boost the company’s market fortunes.
After extensive reverse circulation drilling on the property, the company has turned to diamond drilling, both in new areas and in twinning previous holes, in an effort to get a National Instrument 43-101 resource estimate done on the property.
Results from the new drilling program included highlights of: 2 metres grading 8.5 grams gold and 446 grams silver and 3 metres grading 2.36 grams gold and 174 grams silver.
Those were the best intersects to come from 15 diamond drill holes done on the Gate zone at Mabel.
Another 27 diamond drill holes are being drilled at the Carmelitas zone – which the company says is the most prospective area at Mabel.
At Carmelitas the company is outlining at or near surface gold and silver mineralization on a tighter drill spacing basis than Gate.
In all 195 mineralized holes have been drilled in the Carmelitas Zone including 46 higher grade holes that averaged 2.9 grams gold and 104 grams silver, with an average mineralized interval of 4.5 meters.
By way of comparison, the company says the average of the 15 holes on the Gate Zone is 2.2 grams gold and 117 grams silver over average 4 meter intersections.
Midday in Toronto on Sept. 14 the company shares were off 11% to 4¢ on 100,000 shares traded.
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