Palmarejo cuts more gold and silver at La Patria

Vancouver – La Patria drilling continues to deliver good gold and silver values for Palmarejo Silver and Gold (PJO-V, PJOFF-O) on its 12,100-hectare Palmarejo-Trogan project in Chihuahua State, Mexico.

Results from the four latest reverse circulation (RC) holes include:

• Hole LPDH-003 intersected 4.6 metres (from 51.8 metres down hole depth) grading 2.1 grams gold per tonne and 101 grams silver per tonne in quartz vein breccias and oxidized andesites;
• Hole LPDH-004 cut 10.7 metres (from 26 metres depth) averaging 7.1 grams gold and 156 grams silver in the quartz vein breccia immediately above historic workings, beneath which a number of additional mineralized intercepts were encountered (0.8-to-1.9 grams gold and 18-to-46 grams silver) associated with the breccia and fault zones near the La Patria structure footwall contact;
• Hole LPDH-005 returned several mineralized intercepts averaging just over 1 gram gold over widths of 1.5-to-7 metres within the fault zone, and the quartz breccias and andesites; and
• Hole LPDH-006 intersected 4.6 metres (from 102 metres) of 6.3 grams gold and 46 grams silver in the quartz breccia and andesites, followed by a couple of 1.5-metre sections of 1.1 and 1.4 grams gold respectively.

The RC drill program is testing known structures at the old La Patria mine where Palmarejo is targeting a major left lateral flexure in a section of the La Patria-Virginia fault.

Palmarejo’s project is situated in the Sierra Madre Occidental volcanic belt, a host to many major mineral deposit in Mexico. Gold and silver mineralization at Palmarejo-Trogan is primarily hosted in structurally-controlled, low-sulphidation polymetallic-carbonate veins within the Lower Volcanic Sequence andesites. Locally, the veins show overprinting of high-level, high-grade gold-silver veins. A regional north-northwest trending fault structure controls the veins, with west-northwest dilatant zones that form the high grade shoots (or “clavos”).

The project area has undergone extensive historic underground silver and gold mining as far back as the early-1800s, most of which is relatively shallow (less than 100 metres).