MacMillan hits significant silver and gold

MacMillan Gold (MMG-V) has intersected significant gold and silver grades at its Cerro de Oro property in Zacatecas, Mexico.

The company recently released results from 12 reverse circulation holes. Nine of the holes tested the San Leonides target in the centre of the Cerro de Oro valley. Highlights of this drilling include 7.6 metres grading 42.6 grams silver, 0.22 gram gold per tonne and 0.53% lead (included in this was a 3-metre intercept grading 93.9 grams silver, 0.52 gram gold, and 1.27% lead).

Another hole intersected 1.33 grams gold over 18.3 metres beginning at surface. This intersection included 4.6 metres grading 4.7 grams gold and 11.4 grams silver per tonne.

Hole 45 intersected 12.2 metres of 0.33 gram gold, 45 grams silver per tonne, 1.18% lead and 0.74% zinc, illustrating the polymetallic nature of the deposit. Other intercepts ranged from 0.5-4.8 grams gold and up to 57 grams silver over widths of 1.5-6.1 metres.

One hole failed to intersect significant values. The hole was stopped at 175 metres due to poor drilling conditions. All holes targeted induced polarization anomalies.

One hole targeted the North Contact magnetic anomaly and intersected magnetite-bearing intrusive rock. The highest grade intercept was 29.1 grams silver per tonne over 1.5 metres.

Two holes were drilled targeting the Promondorio target, a zone described in historical exploration reports written by another company. One hole intersected 0.17 gram gold and 1.6 gram silver over 7.6 metres. The other hole failed to intersect significant grade.

Hole depth varied from 96-212 metres. Assays from six reverse circulation holes are pending.

In a separate news release in July, MacMillan Gold reported that it has signed a joint venture agreement with Canadian exploration company, Au Martinique. Au Martinique can earn up to 50% of the 200-hectare El Socorro silver and gold property in Jalisco State, Mexico, from MacMillan.