Partners Hillsborough Resources (TSE) and publicly owned Industrias Luismin S.A de C.V. have completed the initial phase of exploration drilling on the San Rafael vein in Mexicos El Oro gold district.
Situated 115 km northwest of Mexico City, El Oro produced more than 175 million grams gold (5.6 million oz.) and 1.6 billion grams silver (52 million oz.) before producton ceased in 1927.
Intersections from the 8-hole program include:
Hole Length Gold Silver
(m) g/t g/t
BDD93-1 9.3 4.24 43.4
BDD93-2 29.5 4.21 67.1
BDD93-5 9.5 2.27 55.7
BDD93-8 12.5 4.75 41.0
San Rafael is a 3-km-long-by-30-metre-wide oxide vein in a
north-northwest-trending fault that cuts a succession of shallowly dipping Jurassic sediments.
Holes 93-1, 93-2, and 93-8, drilled along a strike length of 600 metres, suggest the potential for three million tonnes grading 4.4 grams gold per tonne.
Hillsborough is preparing to undertake a preliminary feasibility study which will include additional underground exploration work on the San Rafael vein and several other vein systems.
Metallurgical testing is also being carried out on tailings from the previous operations. Initial sampling of the tailings indicate grades of 3.5 grams gold and 86 grams silver. About one million tonnes of tailings are available for processing should the recoveries prove commercial.
Industrias Luisman is based in Mexico City.
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