Well into an exploration program at its El Oro gold-silver project, about 110 km northwest of Mexico City, Hillsborough Resources (TSE) is reported to be pursuing other property interests in Mexico.
The junior is earning a 50% interest in El Oro from Industrias Luismin through expenditures totaling US$5 million. At last report, Hillsborough had spent US$1.5 million of that total.
The property hosts more than 20 veins, few of which have been explored. Hillsborough has delineated a preliminary reserve estimate of three million tonnes grading 4.25 grams gold and 60 grams silver per tonne over a strike length of 600 metres on the San Rafael vein.
The company is also performing metallurgical work on one million tonnes of tailings, where testing to date has confirmed reserves of 3.5 grams gold and 82 grams silver.
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