An initial pair of holes collared some 450 metres southwest of the Campamento gold deposit on the Ixhuatan project, in Mexico’s northern Chiapas state, has yielded encouraging results for Linear Gold (LRR-T, LGCFF-O).
The drilling targeted the Laguna Grande gold-in-soil anomaly, which itself is contained in a broader anomaly extending some 1.4 km to the southwest of the Campamento deposit.
Hole no. 103 tested the northeastern margin of the anomaly, and returned several higher-grade intervals within a 76-metre core section running 0.7 gram gold per tonne, beginning 170 metres down-hole. These include 8 metres (from 192 metres) averaging 1.1 grams gold, 8 metres (from 220 metres) of 2.5 grams, and 6 metres (from 240 metres) at 1.1 grams.
Another 145 metres to the southeast, highlights from hole no. 104 include 16 metres (from 64 metres) of 2.2 grams gold, 18 metres (from 114 metres) running 3.5 grams, and a 2-metre section (from 120 metres) averaging 25.3 grams. Assays from the final 54 metres of core are pending.
Mineralization at Laguna Grande is contained in the same northeasterly trending fracture zone that hosts the Campamento deposit. Gold mineralization is associated with fracture/fault zones in volcanic and sedimentary sequences.
In all, the Laguna Grande anomaly is defined by 112 soil samples with gold values exceeding 0.001 gram gold per tonne, including six exceeding 1 gram. The area measures 450 by 650 metres.
Linear has three drill rigs running at Ixhuatan, targeting Laguna Grande, the Caracol discovery, and northwest of the Campamento deposit. The company will soon move a second rig to Laguna Grande.
The anomaly at the Campamento deposit measures 400 by 1,400 metres, while the deposit itself strikes for around 390 metres, with mineralization in the 1- to 2-gram gold range as deep as 450 metres. The deposit remains open.
Micon International is scheduled to deliver a resource estimate for Campamento later this quarter.
The Caracol target is a high-grade, gold-silver-copper zone with skarn and porphyry-style mineralization some 2.1 km north-northeast of Campamento. In April, drilling there yielded up to 3.8 grams gold, 48.4 grams silver and 2% copper over 7.9 metres.
Another hole is testing a high-grade soil anomaly 325 metres southeast of the main Caracol grid. Six of nine samples there returned 0.9 to 46.1 grams gold, 10.1 to 119 grams silver, and 1.2% to 4% copper.
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