Strong gold numbers justify a more extensive exploration program at Galore Resources’ (GRI-V) El Alamo claim in Mexico, the company says.
El Alamo is part of the company’s Dos Santos project in the Mazapil-Camino Rojo trend in northern Zacatecas. Dos Santos is in the historic Concepcion del Oro gold mining district and adjoins Goldcorp’s (G-T, GG-N) Camino Rojo discovery and is 35 km southeast of its Peñasquito mine.
The results confirm that gold mineralization from previous trenching extends below the surface and that gold mineralization is open at depth in all directions.
Highlights from the most recent drilling include 2.22 grams gold per tonne over 17.5 metres from 0-17.5 metres starting at surface in hole A10; 1.04 grams gold over 6.1 metres from 2.15-8.25 metres near surface in hole A1; and hole A11b, which returned 3.05 metres of 1.23 grams gold from 2.3-5.3 metres near surface.
Galore has drilled 32 shallow holes so far at El Alamo, 20 of which resulted in significant gold intercepts, and the exploration drilling will help the company identify deeper targets for inclined drilling.
A conventional track-mounted percussion drill was used due to the steep terrain at El Álamo. These drills are limited to vertical drill holes to depths of about 30 metres.
At presstime in Toronto Galore was trading at 11.5¢ per share, up 15% on the day, within a 52-week trading range of 9¢-33¢.
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