Maya expands Rio Rico prospect in Honduras

Spokane-based Maya Gold (MAY-A) is expanding the limits of a newly discovered area of mineralization in the jungles of central Honduras.

The company has located two additional zones of alteration and mineralization at the Rio Rico prospect, 40 km northeast of Tegucigalpa.

In July, the company announced the discovery of a highly silicified zone of brecciated chlorite schist at a place called Barranco Rico. From 30 grab samples, Maya geologists outlined a zone measuring 750 by 150 metres and which was open in all directions.

Subsequent exploration has delineated two additional zones, Patastera and Majastre, each of which measures at least 100 metres in width along a 4-km northeasterly trend from Barranco Rico. Sampling at Majastre returned highly anomalous gold values, including a 15.2-metre stretch along an old logging road that averaged 1.1 grams gold per tonne.

Geologists are evaluating the extent of this emerging structural trend. The Rio Rico prospect, which lies within the company’s 10,000-ha Casas Viejas concession, is still in its infancy, says Maya’s vice-president, William Green. The company plans to continue mapping, sampling and trenching on the Casas Viejas concession, as well as on the adjacent 28,000-ha El Rosario concession.

Maya Gold is also mapping and sampling at its Los Lirios property in southern Honduras, near the Nicaraguan border.

“We’ve got a good target at Los Lirios and it looks as if Rio Rico is coming along as well,” Green says. The company is looking to raise money for initial drilling at Los Lirios, and at possibly Rio Rico if exploration there continues to return good results.