Additional drill results from Alamo Dorado property in Sonora, Mexico
Corner Bay Minerals Inc BAY
Shares issued 8,808,207 Oct 8 close $1.70
Tue 12 Oct 99 News Release
Mr. Peter Mordaunt reports
Corner Bay Minerals Inc. releases additional reverse circulation drill
results from the Alamo Dorado silver/gold property in Sonora, Mexico. The
drill campaign consisted of 23 drill holes totaling 6,045 meters plus the
extension of 12 holes totaling 1,150 meters, for a total of 7,195 meters.
These final results, all of which have been completed at the project,
include in-fill, down dip and re-entering of drill holes. Results from
several in-fill sections and 12 holes that were re-entered and extended
continue to encourage company management (see bold type results in the
Alamo Dorado Drill Results table and the accompanying map**). All analyses
have been conducted by Bondar Clegg de Mexico, S.A. de C.V. at Intertek
Testing Services of Hermosillo, Mexico. Furthermore, it appears that the
mineralized horizon hosting silver/gold continues to be open in two
directions - down dip and to the north and northwest. Although four holes
were drilled to the northwest with less than average results (AD-20, AD-21,
AD-22 and AD-23), a more precise understanding of the geology is needed and
the company feels this is an area where more drilling is warranted. Recent
drilling focused within the known area of silver/gold mineralization to
provide a definitive understanding of the deposit in this area. The results
have confirmed that the precious metals are continuous along strike and, as
previously reported, the oxidized silver/gold envelope is wider than was
originally recognized.
A pre-feasibility resource and reserve study is now underway at MINTEC Inc.
and will incorporate all new drill data into the economic model previously
developed to create an updated resource/reserve study. This study will
focus specifically on classifying a new resource and ore reserve based on
specific economic assumptions to outline an economic open pit as well as a
mining schedule. In addition, a geological and geostatistical study of the
deposit will be completed. This work will culminate in developing
preliminary economic cash flows.
Diamond drilling has begun at the site to extract a metallurgical bulk
sample and the company expects to complete the large diameter core drilling
within 4 to-6 weeks. Once this drilling is completed, the core will be
transported to Metcon Research Inc. in Tucson, Arizona where it will be
sampled and composited for advanced column leach testing. This work is
expected to continue throughout the fall and into early next year.
Alamo Dorado Drill Results
Silver Gold Equival-
ent*2
Section Drill Hole*1 Width (m) Ag g/t Au g/t Ag g/t
L-300S AD-08 96.0 90 0.23 102
including 54.0 116 0.31 133
with extension*3 139.5 130 0.22 142
AD-07 63.0 50 0.24 63
including 54.0 63 0.26 77
AD-13 99.0 72 0.19 82
including 46.5 93 0.30 109
AD-40*3 12.0 47 0.01 47
L-250S AD-29 229.5 120 0.25 134
including 117.0 222 0.41 244
AD-25 229.5 73 0.22 85
including 64.5 193 0.56 223
with extension*3 295.5 64 0.28 79
AD-24 156.0 46 0.10 51
including 70.5 78 0.19 88
L-200S AD-10 148.5 157 0.31 174
including 132.0 162 0.32 179
with extension*3 226.5 117 0.25 131
AD-09 115.5 60 0.24 73
including 90.0 71 0.24 84
with extension*3 195.0 82 0.31 99
AD-14 121.5 27 0.22 39
including 33.0 47 0.23 59
with extension*3 198.0 49 0.34 67
L-150S AD-35 142.5 93 0.26 107
including 105.0 122 0.30 138
AD-34 193.5 92 0.40 114
including 120.0 109 0.54 138
AD-41*3 147.0 49 0.53 78
plus lower zone*3 22.5 22 0.23 34
Silver Gold Equival-
ent*2
Section Drill Hole*1 Width (m) Ag g/t Au g/t Ag g/t
L-100S AD-02 132.0 82 0.37 102
including 64.5 117 0.44 141
with extension*3 178.5 68 0.31 85
AD-01 139.0 101 0.32 118
including 75.0 136 0.51 164
with extension*3 234.0 71 0.23 83
AD-15 133.5 27 0.22 39
including 66.0 39 0.35 58
AD-31 105.0 20 0.18 30
including 51.0 29 0.25 43
AD-30 52.0 42 0.08 46
including 27.0 72 0.03 74
L-050S AD-27 166.5 57 0.20 68
including 69.0 78 0.18 88
AD-26 184.5 43 0.20 54
including 46.5 54 0.54 83
AD-37*3 90.0 44 0.10 49
plus lower zone*3 49.5 27 0.11 33
L-000 AD-06 81.0 65 0.18 75
including 54.0 84 0.23 96
with extension*3 186.0 57 0.20 68
AD-05 102.0 72 0.17 81
including 76.5 87 0.21 98
with extension*3 223.5 52 0.12 58
AD-16 100.5 22 0.11 28
L-050N AD-33 198.0 51 0.16 60
including 127.5 64 0.20 75
AD-32 135.0 68 0.15 76
including 106.5 80 0.16 89
AD-38*3 22.5 46 0.12 52
Silver Gold Equival-
ent*2
Section Drill Hole*1 Width (m) Ag g/t Au g/t Ag g/t
L-100N AD-04 73.5 22 0.10 27
including 22.5 36 0.10 41
with extension*3 141.0 25 0.09 30
AD-03 100.0 29 0.21 40
including 78.0 30 0.30 46
plus lower zone*3 22.5 24 0.06 27
AD-17 117.0 48 0.08 52
including 75.0 70 0.10 75
AD-39*3 81.0 51 0.40 73
Northwest Area
L-150N AD-23*3 18.0 19 0.04 20
L-232N AD-22*3 117.0 18 0.04 20
*1 Holes presented shallowest to deepest intercept on Section *2
Equivalents based on US $5.50/oz Ag and $300/oz Au *3 Newly released Drill
holes
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
