Vancouver – A new, previously unexplored, target on the Cordero Sanson property has produced strong silver – gold drillhole intercepts for joint-venture partners Levon Resources (LVN-V) and Valley High Ventures (VHV-V).
The first drillhole results from the target, known as Pozo de Plata, intercepted as much as 152 metres grading 80.64 grams silver per tonne, 0.61 grams gold per tonne, 1.41% zinc and 1.225 lead in hole 5, starting 92 metres downhole. The intercept included a 72 metre portion grading 150.16 grams silver, 1.06 grams gold, 2.48% zinc and 2.27% lead.
Four other drillholes produced significant though less lengthy and silver and gold rich intercepts. Hole 1, for example, returned 70 metres starting from surface grading 29.14 grams silver, 0.08 grams gold, 0.25% zinc and 0.15% lead.
About 2 km northeast of Pozo de Plata, operating partner Levon, which has an option to earn a 51% interest in the property from Valley High, also hit enticing intercepts of gold and silver at the better known Cordero Dome target. Hole 3 hit 20 metres grading 88.34 grams silver, 0.14 grams gold, 1.9% zinc and 1.69% lead.
Mineralization at Pozo de Plata, a circular target about 1.5 km in diameter, occurs in a rhyolite dyke and diatreme complex. In hole 5 mineralization came in the form of medium to coarse grained sphalerite with galena, pyrite and fine tetrahedrite. The hole ended in limestone country rock.
To earn its 51% interest Levon must spend $1.25 million by the end of February, 2013, of which it has already spent over $1 million.
On news of the drillhole results both Levon and Valley were trading slightly down at presstime. Respectively their shareprices were off 0.5¢ and 2¢. Levon has about 55.5 million shares outstanding while Valley High has about 31.5 million shares outstanding.
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