An exploration program aimed at defining and ranking drill targets will be conducted this year by Aurizon Mines (TSE) on its La Reyna copper-gold project near Mazatlan, Mexico.
Last year the company completed a reconnaissance program to evaluate the geology of the project and locate copper-gold occurrences related to an apparent caldera. Claims were also staked to cover areas of indicated copper-gold potential (copper oxide and/or tourmaline breccia) lying outside the original claim block.
La Reyna is estimated to host a preliminary oxide resource of 10 million tonnes grading 0.72% copper, and a preliminary sulphide resource of 15.5 million tonnes grading 0.7% copper and 1.02 grams gold per tonne. The estimate is based on work by previous operators (including Asarco). The bulk of the resource is within the West and East Hill zones. This year’s program will include geologic studies to evaluate a down-plunge target within the East Hill breccia deposit where previous drilling at deeper levels returned the best mineralization known to date. The program will also help determine if mineralized outcrops located along the margin of the apparent caldera reflect a larger mineralized system.
Aurizon owns a 95% working interest in La Reyna, with Western Desert Explorations holding the remaining 5% interest. Western Desert can increase its interest to 30% by funding exploration. The project is also subject to a 2% net profits interest.
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