Pioneer uncovers new Bonito zone

Some relatively high grade gold values have been reported from a breccia feeder system at Pioneer Metals’ Bonito property near Ruidoso, N.M. President Robert D. Willis confirms the system is “only one of several which have led to the previously known extensive low grade silver- gold mineralization near surface.”

Results from the “New zone” included 230 ft grading 0.1 oz gold per ton in hole No RC5-87. But within that intercept was 35 ft averaging 0.34 oz gold.

Dr Stewart Blusson, vice-president explorations, says a deep resistivity survey is planned immediately followed by more drilling. The survey will define the underlying structural network and alteration pattern which will guide the drill program.

The company first drilled the property in 1985 and blocked out some 809,000 tons of 0.07 oz gold to a depth of 200 ft in the Great Western zone. No work was done last year because Pioneer concentrated its efforts on opening the Stibnite mine in Idaho.

Both zones are open in all directions and they are highly oxidized. Massive sulphide mineralization has been noted at depths of 400 ft which is not unusual for these type situations. Preliminary metallurgical test work suggests the material is readily heap leachable, the company notes.

Mr Blusson says there are intrusives on both sides and intensely-altered volcanics within the gold zones. The alteration pattern is similar to that associated with porphyry copper systems, he admits. The high gold values occur in a multi-stage breccia and a distinct upgrading of gold values is evident in large diameter reverse circulation drill holes, he points out.

Core recoveries from diamond drilling have been poor and this method will be used selectively in the future. Equipment problems and poor weather conditions allowed them to complete only about 8,000 ft of a proposed 10,000-ft drill program earlier this year.

The company’s exploration budget is open-ended and the current area of exploration represents only a small part of a very large and highly intense alteration pattern at Bonito.