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Canplats to buy Mecatona district Au-Ag properties
2005-11-28 10:00 ET - News Release
Mr. Gordon Davis reports
CANPLATS TO ACQUIRE NEW GOLD PROJECT IN MEXICO
Canplats Resources Corp. is assembling extensive properties in the Mecatona gold-silver district in the state of Chihuahua, Mexico, approximately 20 kilometres south of Parral. The properties cover the principal veins of the district where historic mining activities focused on gold-silver production from epithermal veins measuring from one to five metres in thickness.
The Mecatona district covers three trends: two northeast-trending fault systems, which extend for up to 1.2 kilometres, and one northwest-trending shear zone mapped over 600 metres. These faults dip toward each other and their projected intersection at depth provides excellent targets for exploration. The district includes two small operating producers and six abandoned mines.
Recent surface sampling on the properties has returned values of up to 45.1 grams of gold per tonne and 1,770 grams of silver per tonne (1.3 ounces of gold per tonne and 51.6 ounces of silver per ton). Compilation of mapping and sampling is under way to identify drill sites. Encouraging high-grade gold and silver values indicate excellent potential for high-grade bonanza-style mineralization in veins.
In addition to holdings in the Mecatona district, Canplats has retained two geologists with proven records of discoveries in the region to conduct property examinations and regional exploration in north-central Mexico. The program will commence in the new year and continue for at least six months.
Canplats also holds a 100-per-cent interest in the Rodeo gold project located in the state of Durango, Mexico. Drilling at the Rodeo property in 2004 intersected up to 5.98 grams of gold per tonne over 27 metres (0.17 ounce of gold per ton over 89 feet), including 7.9 grams of gold per tonne over 16 metres (0.23 ounce of gold per ton over 52.5 feet) in hole BR-6. A drill program is being planned for early 2006.
Kenneth C. McNaughton, MASc, PEng, and vice-president, exploration, Canplats Resources Corp., is the qualified person (QP) responsible for reviewing available data for the Mecatona property package.
In addition to its core holding at Rodeo, the company holds 100-per-cent interests in two other Mexican gold prospects, Yerbabuena and El Rincon, and continues to seek other gold projects in Mexico with exceptional exploration potential.
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