Sure can't wait till they start something at Zopilote, look at
TSE Symbol: GEO
[All figures quoted in US$]
September 13, 1999
TORONTO -Geomaque Explorations Ltd. today announced that additional ore-grade gold
mineralization has been delineated through exploration at its Vueltas del Rio gold deposit in
northwestern Honduras. The Company also announced that a drill program has begun at its
La Chicharra deposit in Mexico, and an update to reserves at its 100%-owned San Francisco
Mine.
As part of detailed mine planning, the Company recently completed a program of 71 pits at
Vueltas del Rio, which have added a strip of mineralization covering an area approximately 30
metres wide by 700 metres in length to the southern extent of the San Roberto Zone (see
attached map). The pits, which were dug by backhoe to a maximum depth of five metres,
are an effective method of testing near-surface mineralization as they provide a larger sample
size than drilling. Channel sampling was done on one metre vertical intervals.
The highest grades were encountered in Pit #53 on section 540E. The sample included four
metres grading 9.41 g/t gold, with the last metre grading 27.12 g/t. Oxide mineralization in the
San Roberto Zone is flat lying, giving it an extremely low stripping ratio. In addition, the oxide
material at Vueltas del Rio has very rapid leach characteristics and high recovery rates,
estimated in the feasibility study at 88%.
“This program had a number of benefits. Not only have we added mineralization over and
above what is currently included in reserves, we've delineated a significant number of drill
targets and enhanced our understanding of the geology at Vueltas,” said Phillip Walford,
Vice-President, Exploration. “We expect ore reserves at Vueltas will increase as a result of
this program when they are updated this fall.”
In June, a program of prospecting began in the South Zone, located approximately 200 metres
south of the Vueltas del Rio deposit. The South Zone trends west-southwest toward the El
Zapotal gold-zinc prospect located just west of the Vueltas del Rio deposit. Previous work
focused on the eastern end of the South Zone, where anomalous-to-ore-grade gold values
were encountered through drilling and trenching. Geomaque's work has extended the strike
length of the South Zone to 1.5 kilometres, and more detailed exploration is planned to begin
this fall.
need money dad, send money. have gold in ground.
happy trading.
P S,
ask is at .25, good time to pick some up. IMO. |
