FPX-v...in the news:
First Point releases Honduran trenching results
Mon 25 Mar 2002
Mr. Peter Bradshaw reports
FIRST POINT MINERALS EXPANDS THE FILO LAPA BULK TONNAGE AND H ...
First Point Minerals has released the balance of trench results from the
Cacamuya gold-silver property, southern Honduras. A total of 644 metres of
excavator and 88 metres of hand trenching were completed on the Filo Lapa
bulk tonnage target plus limited hand trenching at the Hilo Libre
high-grade vein target.
The Filo Lapa target is considered an excellent exploration target for
high-level, oxidized, bulk minable mineralization similar to Glamis Gold
Ltd.'s San Martin deposit in Honduras, plus deeper seated, structurally
controlled, high-grade feeder type mineralization in Chile, or the Sleeper
deposit in Nevada. Hilo Libre is also considered a similar target to El
Penon.
The northeast trending Filo Lapa target, using a 0.5-gram-per-tonne cutoff,
has been expanded to about 300 metres long and between 20 and 80 metres
wide, more than double the previously reported area. The average gold grade
is 0.9 g/t, more than 30 per cent higher than the previously announced
grade of 0.67 g/t. Continuous channel samples have been taken ranging from
less than one to 12 metres depending on alteration or rock type
characteristics. Hand trenches and the deeper machine trenches give very
similar results, but the machine trenches allow better mapping of geology
and can be dug much more rapidly.
Within the 0.5-g/t gold cutoff area the maximum value is 1.62 g/t gold
indicating a uniform grade distribution, which reflects the pervasive
nature of the strong alteration and mineralizing event. Selective samples
of intensely silicified intervals returned a similar range of values
confirming the disseminated nature of the mineralization. To the southwest
the Filo Lapa zone narrows. To the north it appears to either change strike
from northeast to north or pinch out. To the east, it expands down the
slope onto a bench of explosion breccias, tuffs and siliceous sinter
chimneys.
Three isolated samples located between 100 and 300 metres northeast of the
northern end of the Filo Lapa target along the El Manglar trend range
between 0.28 g/t and 3.4 g/t gold. These samples indicate potential for a
separate mineralized centre that likely extends west, up slope to one of
several untested geochemical soil anomalies on the El Manglar trend.
Hand trenching at the Hilo Libre target located 1,800 metres
north-northeast of Filo Lapa returned up to 8.53 g/t gold over 1.3 metres
apparent true width near old workings. These are located 280 metres
north-northwest of the previously reported Hilo Libre trench that carried
12.5 g/t gold over 2.8 metres. The relation between these two sampled areas
is not clear because of poor exposure. Both are characterized by dark
sinter and tuff fragments cemented by crystalline to chalcedonic quartz.
Additional machine and hand trenching are planned at Cacamuya in April/May,
particularly at the D5, D4, Filo Lapa and Hilo Libre target areas. It is
anticipated that this will be followed by a drill program planned for
July/August. |
