Very good results (see below) + price of gold = Wakeup call, I hope
TORONTO, ONTARIO--Geomaque Explorations Ltd. is pleased to
announce that infill drilling continues to return significant
intercepts over substantial widths in the San Juan Zone at its 100
percent-owned Vueltas del Rio gold deposit in northwestern
Honduras.
The Company has now received and reported results from 93 of 102
holes drilled in the San Juan Zone, and assays continue to confirm
the continuity of the near-surface oxide and deeper sulphide
mineralization. Oxide intercepts from the 18 most recently
reported holes include Hole V-77, 31 metres grading 1.96 g/t; Hole
V-81, 21 metres grading 0.70 g/t; Hole V-82, 32 metres grading
1.25 g/t; hole V-85, 40.25 metres grading 1.26 g/t; Hole V-86, 27
metres grading 4.76 g/t; Hole V-88, 25 metres grading 2.94 g/t;
Hole V-89, 19 metres grading 1.40 g/t; and Hole V-93, 7 metres
grading 4.10 g/t.
Drilling began in February, and has extended the area of economic
interest in the San Juan Zone to approximately one kilometre.
Drilling in the Main Zone began in July, and a total of 42 holes
have been completed. Assay results are pending.
Preliminary metallurgical work by previous operators on ore
samples from the San Juan and Main Zones indicated gold recoveries
of approximately 78 percent from a flotation test of sulphide
samples and approximately 90 percent from column tests of oxide
ore samples. Geomaque has contracted Lakefield Research and
McLelland Laboratories to conduct a comprehensive metallurgical
study of the sulphide and oxide ore samples respectively as a
follow-up to this work. The testing program will be implemented
this month.
"The drilling continues to confirm previous results, and we're
particularly encouraged by the grade and width of the oxide
intercepts in the eastern part of the San Juan Zone," said Phillip
Walford, Vice-President, Exploration. "With the metallurgical
program set to begin we expect to have confirmation of the rapid
leach times and high recovery rates found in previous testing of
the oxide ore, and gain an understanding of the characteristics of
the sulphides by year end."
In addition, the Company recently received approval of an
environmental impact study on the Vueltas del Rio deposit. An
environmental permit has been issued, and as a result Geomaque now
holds all permits required to bring the Vueltas del Rio deposit
into production.
Geomaque Explorations Ltd. is an international gold mining and
exploration company producing gold from its 100 percent-owned San
Francisco Mine in the State of Sonora, Mexico, and exploring for
gold in Latin America.
/T/
Recent results from San Juan Zone, Vueltas del Rio gold deposit,
Honduras
Hole # Section Interval (m) Width (m) Grade (g/t) Type
Uncut Cut(x)
V-76 1080 28.25-33.5 5.25 0.72 Oxide
64.5-72 7.5 2.45 Sulphide
78-81.25 3.25 10.20 8.14 Sulphide
108-112 4 1.63 Sulphide
V-77 1120 0-31 31 1.96 1.55 Oxide
41-49 8 1.15 Sulphide
V-78 1120 71-91 20 1.00 Sulphide
V-79 1120 103-107 4 1.06 Sulphide
V-80 1120 88-93 5 1.15 Sulphide
111.5-114 2.5 1.05 Sulphide
124.25-128 3.75 1.11 Sulphide
V-81 1040 0-21 21 0.70 Oxide
V-82 1040 0-32 32 1.25 Oxide
37-40 3 1.00 Oxide
V-83 1140 25-28 3 1.04 Sulphide
44-48 4 2.00 Sulphide
55.75-58 2.25 1.70 Sulphide
69-71 2 2.33 Sulphide
V-84 1140 27-44 17 0.97 Oxide/
Sulphide
54-64 10 3.21 Sulphide
V-85 1140 0-40.25 40.25 1.26 Oxide
46-48 2 2.95 Sulphide
V-86 1160 17-44 27 4.76 Oxide
V-87 1160 1-49 49 0.72 Oxide
V-88 1180 7-32 25 2.94 Oxide
37-40 3 0.94 Oxide
V-89 1180 2-21 19 1.40 Oxide
V-90 Low-grade mineralization
V-91 Low-grade mineralization
V-92 1160 71.75-73 1.25 5.45 Sulphide
V-93 1200 0-7 7 4.10 Oxide
(x) "Cut" grades are cut to the equivalent of one ounce per ton
gold.
/T/
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Geomaque Explorations Ltd.
Sean Stokes
Manager, Investor Relations
(416) 956-7470
There is a map available by contacting the company at the number
above or by accessing CCN's Internet Website at
cdn-news.com. |
