Manhattan Minerals (MAN-T) has received further encouraging results from its diamond drill program on the Candamena gold-silver property in the northern Mexican state of Chihuahua.
A total of 10,313 metres was drilled in 52 holes in three zones: La Joya South, La Joya North and Dolores. Drill holes 1 to 20 were reported in March.
The intercept with the highest gold grade was from hole 30, which returned a 41-Metre interval of 5.25 grams gold per tonne, including 7.62 metres of 15.5 grams. Overall, including that intercept, the hole returned 78 metres from surface grading 2.95 grams gold and 11.3 grams silver.
The highest silver value came from hole 36, which intersected 12.2 metres grading 442.3 grams of the white metal and 0.89 gram gold. Hole 36 also returned 113 metres of 1.51 grams gold and 13.2 grams silver. The entire 201-Metre interval, drilled at a 22 angle, graded 1.04 grams gold and 38.3 grams silver.
Candamena is an acid-sulphate type of epithermal gold-silver deposit hosted in felsic volcanic and near-surface intrusive rocks. Mineralization is associated with intense alunite and pyrophyllite development, as well as moderate silicification.
The system lies at the intersection of two caldera complexes. The Candamena is different from other acid-sulphate systems in that it features carbonaceous material hosted in felsic epiclastic rocks, which has acted as a chemical trap for concentrations of precious metals.
Manhattan will next carry out check assays, geologic modelling, analysis and targeting of potential bonanza-grade oreshoots. Also planned is an additional 1,500 to 2,000 metres of core drilling.
In other news, Manhattan has signed an option-To-purchase agreement for concessions covering epithermal and skarn gold mineralization at the Oribo property, in southwestern Chihuahua.
The agreement calls for US$2.2 million to be paid over four years, with no retained royalties.
Previous rock sampling at Oribo has identified significant gold mineralization associated with oxidized breccias hosted in marble and porphyry intrusives, along a regional, northeast-Trending structural zone.
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