Valerie Gold Resources (VLG-V) reports that recent drilling on a promising soil geochemical gold-silver anomaly at the Mamatla concession in south-central Mexico returned anomalous mineralization.
Under the direction of TVX Gold (TVX-T), five diamond drill holes totalling 763 metres tested a broad geochemical anomaly in the Manto America area. An additional hole was drilled on the Bridge zone, 1.5 km to the west.
The holes intersected moderately to strongly silicified andesitic flows and tuffs containing 3% to 15% disseminated and fracture-controlled pyrite, with traces of galena and sphalerite. All the holes ended in mineralization.
Among the best intervals were 109 metres averaging 0.09 gram gold and 1.23 grams silver per tonne, starting at a depth 121 metres in MA98-1; 138 metres averaging 0.24 gram gold and 2.04 grams silver, beginning at surface in hole MA98-3; 116.4 metres averaging 0.15 gram gold and 1.37 grams silver in hole MA98-4; and 25.3 metres averaging 0.1 gram gold and 1.24 grams silver in hole BZ98-1.
A further seven holes comprising 1,098 metres tested a number of other targets on the 160-sq.-km concession, which straddles the boundary between the states of Guerrero and Mexico. Although not all the assays have been received for these holes, no significant mineralization was observed during core logging.
A geochemical sampling program is continuing to investigate a number of distinct potassium anomalies along strike from Manto America.
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