Tyler steps out at Bahuerachi

Vancouver — Results from drilling by Tyler Minerals (TYS-V) at the Bahuerachi project in Mexico’s Chihuahua state indicate increased widths on the Main zone.

Core hole 28 returned a 161-metre intercept (from 33 metres) averaging 0.5% copper, 0.24% zinc and 8 grams silver per tonne in a sequence of mineralized sediments, skarn and porphyry. Farther down-hole, a 26-metre interval graded 1.35% copper, 1% zinc, 0.1 gram gold and 34 grams silver in the breccia-skarn zone.

Hole 31 cut 193 metres of 0.6% copper, 0.4% zinc and 9 grams silver in the sediment-skarn-porphyry zone, followed by a deeper 59 metres of 1.3% copper, 0.1 gram gold, 22 grams silver and 1.1% zinc in the breccia-skarn.

The latest drilling has traced mineralization across a 200-metre width on the 900-metre long system. Drill depths ranged from 110 to 225 metres.

Tyler is mobilizing a larger rig to the site to remedy problems associated with difficult ground conditions. The latest holes were terminated prior to reaching target depth.

The Main zone at Bahuerachi is a large mineralized porphyry complex with three types of identified mineralization. Low-grade copper occurs in an enriched oxide blanket in a volcanic-sedimentary sequence hosting the main intrusive complex. The second type occurs as extensive, high-grade breccia and skarn within, and on the edges of, the main porphyry. Mineralization also occurs as low-grade stockworks and as disseminations in porphyry itself.

Trading in the Calgary-based company’s stock rallied on the news, rising 9% to $1.10 per share on volume of 700,000 shares. With 78 million shares outstanding, Tyler has a market capitalization of $86 million.