Vancouver – The first drill hole on the Campamento target at Linear Gold’s (LRR-V) wholly owned Ixhuatan project in northern Chiapas, Mexico, returned impressive gold intersections.
High-grade mineralization was encountered at the Campamento zone in the southern section of the property.Hole 9 cut 30 metres (from 12 metres) grading 11.5 grams gold per ton and 22.6 grams silver, including an intercept of 20 metres of 16.7 grams gold and 33.2 grams silver. Further assays from the hole are in process.
Campamento was targeted as a high gold-in-soil anomaly. Hole 9 intersected the mineralization in oxidized volcanics permeated with fine, stockwork veinlets containing manganese and iron oxides. Porphyry-style alteration is evident in the system.
Based on initial results, Linear is expanding its present drill program at Campamento to at least 20 holes.
The 28,000-hectare Ixhuatan project is a porphyry-style gold system containing zones of higher-grade, stockwork gold mineralization.
Linear has a number of exploration projects in Mexico, as well as properties in the Dominican Republic and Canada.
The news sparked investors, rallying the share price up almost 40 cents to $1.72 at presstime, on heavy volume. As of the latest figures, the company has 13.8 million shares outstanding.
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