News out today on Standard, nice move in gold today, up 6.10. I guess china is buying gold.
Maybe Standard can do a J V in Mexico and Honduras, if gold can climb to 350.
Poor Damoti Lake, Maybe I can buy that deposit myself.
I want to find out what is below 1,000 ft
XXXXXXXXXXXXXXXXXXXXX
Gold Exploration Progressing at Zopilote, Honduras
An expanded soil sampling program has commenced on Standard Mining's 100%-owned Zopilote
gold property in Santa Barbara Department, Honduras. Highly anomalous gold in soil from last year's
program has encouraged Standard Mining to expand its exploration into four large adjacent areas.
The goal of the soil sampling program is to identify additional gold anomalies which will be followed
up with trenching. The new program will ultimately consist of over 800 soil samples collected on 100
meter x 100 meter centers along 80,000 meters of linear traverse. To date, nearly 200 new samples
have been collected and submitted for assay; all results are pending. The six-man Honduran sampling
crew should complete the sampling program during September.
Soil sampling conducted in 1999 identified the Capules soil gold anomaly (greater than 100 ppb Au)
that extends along an east-west lineament for at least 3,600 meters and is 100 to 400-plus meters in
width. Gold values within the soil anomaly are typically 200 to 300 ppb with high values up to 1.6
ppm. Standard Mining plans to cut four hand-dug trenches across the Capules anomaly to test a 900
meter portion of the zone. The trenches will be 300 meters apart and total 2,300 linear meters.
Approximately 1,900 meters of new road will also be constructed and sampled within the anomalous
zone.
The nearby, northeast-trending Zopilote soil anomaly is 2,200 meters in length and 200 to 400 meters
in width. Past drilling in the Zopilote soil gold anomaly has identified a resource of approximately
446,000 oz gold. Much of the anomaly remains untested by drilling.
Standard Mining's Zopilote property lies along the developing Motagua Gold Trend as presently
defined by the Zopilote, Vueltas del Rio, San Andres, and Cerro Blanco gold deposits. The property
location, which is close to San Pedro Sula, the country's second largest city, is a positive aspect.
Standard Mining is an exploration and mine development company traded on the TSE with its head
office located in Vancouver, BC. The company had drill-indicated gold resources in Canada and
Honduras and is presently conducting a due diligence investigation on AngloGold's El Chanate gold
property in Sonora state, Mexico. TEL: (604) 689-0489 Paul Saxton, President & CEO
Standard Mining Corporation Website: www.standardmining.com |
