Machacala yields mixed results

Junior Gold Hawk Resources (CGK-M) has received mixed results from the final two holes sunk at its Machacala gold-silver property in Peru.

The property, 40 km east of the city of Trujillo in the department of La Libertad, is a former gold and silver producer, and was acquired by Gold Hawk in 1997. The recent results are part of an 8-hole campaign aimed at the vein systems previously mined, plus a separate geophysical anomaly.

Hole 7, which was collared on the Caridad 2 vein, cut 1.5 metres (from 58 to 59.5 metres) grading 6.55 grams gold and 387 grams silver per tonne. The intersection is simlar to those obtained from other veins (T.N.M., Sept. 25/00).

Targeting a coincident induced-polarization and magnetic anomaly, hole 8 returned anomalous copper, manganese and cobalt over 86.5 metres, begining at surface. Gold Hawk says the results fail to explain the anomaly.

Meanwhile, two trenches dug across the San Juan de Velarde vein each yielded 2 metres grading up to 3.27 grams gold and 40.9 grams silver. The trenches lie 300-400 metres north of an old shaft that yielded similar values near its top but anomalous values 12 metres down. All three areas lie within a 500-metre-long section of the vein that lies northwest of a 40-metre-wide pit from which up to 15 grams gold and 4,114 grams silver were obtained in 1997.

Gold Hawk had sunk two holes in the assumed trace of the San Juan de Velarde vein; however, both intersected a fault. One had to be abandoned, and the other returned 6 metres of anomalous values only.