Pediment Exploration Ltd.: Wide Cross Section of Los Planes Gold Mineralization Indicated With 3 New Drill Holes
13:12 EDT Friday, August 17, 2007
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2007) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(FRANKFURT:P5E) is pleased to report the second group of assay results from its reverse circulation drill testing program at the Los Planes target which is located within the San Antonio gold project in Baja California Sur, Mexico. Analytical results have been received from the remaining three drill holes of the first seven completed. All three were drilled at an angle of 45 degrees to cross the Los Planes shear system and are located in section N39650 which has an east-west orientation. Previously reported PLRC-1 with 83.82 metres of 1.47 g/t gold is also located in this section. The significance of the results from these assays is the intercepts show a nearly complete cross section through the mineralized shear zone that has a down-dip length of approximately 300 metres with gold mineralization. A broader zone of mineralization is also indicated by the drill phase in progress.
Following are all of the new results received from the RC drilling program:
PRESENTED NEW RESULTS
Drill hole From (m) To (m) Length (m) Au g/t Comments
PLRC-04 57.3024 80.1624 22.86 1.154 Mixed zone
including 58.8264 60.3504 1.524 7.090
and 106.0704 124.3584 18.288 0.664 Mixed zone
and 125.8824 135.0264 9.144 0.255 Sulphide zone
and 136.5504 177.6984 41.148 2.268 Sulphide zone
including 138.0744 144.1704 6.096 5.615
PLRC-03 42.0624 49.6824 7.62 0.430 Oxide zone
and 55.7784 90.8304 35.052 2.241 Oxide zone
including 58.8264 66.4464 7.62 4.506
and 95.4024 116.7384 21.336 0.617 Mixed zone
PLRC-02 43.5864 74.0664 30.48 1.774 Oxide zone
including 45.1104 46.6344 1.524 6.135
including 63.3984 64.9224 1.524 3.740
and 104.5464 110.6424 6.096 1.078 Oxide zone
Please click on the links below to view the updated drill plan and cross section.
pedimentexploration.com
pedimentexploration.com
Observations from Further Drilling
Los Planes mineralization has to date been traced for approximately 1000 metres of strike, and remains open. Los Planes is located about 1000 metres north of the historic Las Colinas resource and both the eastern (up-dip) and western (down-dip) boundaries of the system are still to be determined. The strike length of the system has been extended by two additional drill holes, PLRC-9 and PLRC-10 located on-trend 100 and 200 metres north from the area of PLRC-7, that contain intervals of sulphide mineralization.
Drill hole PLRC-13 was completed at a site 250 metres east of PLRC-5 and penetrated 60 metres of Tertiary sand-gravel cover followed by a zone of both oxide and sulphide mineralization. This indicates a basin fault in this area has dropped an up-dip portion of the system into a separate fault block that extends the target area to the east. A review of the geophysical data in this area suggests less cover to the north of PLRC-13, and this area will be drill tested.
Samples from the ten additional RC drill holes that have now been completed have been shipped to ALS Chemex facilities. Assay results from these will be released once they have been compiled.
SAMPLING
Each 1.5 metre-long section of material from the reverse circulation drill is collected and split on site, with one-half retained at the project and the balance shipped to the ALS Chemex preparatory facility in Hermosillo, Sonora Mexico. The ALS Chemex lab weighs received material, and a part is ground to a pulp fraction and shipped to the Vancouver, B.C. laboratory facility. Analyses are performed for gold by fire assay with AA finish, with over limit (+10 g/t gold) re-assayed by fire assay with a gravimetric finish.
Vice President, Exploration, Mel Herdrick, M.Sc. is a qualified person as defined by NI 43-101 and has approved the information contained in this release. The project supervisor is geologist Pedro Teran, B.Sc.
Pediment Exploration is a well financed, aggressive exploration company with a main focus on precious metals exploration in western Mexico, and is actively exploring a series of projects in Baja California Sur and Sonora.
On Behalf of the board
Gary Freeman, President and CEO
PEDIMENT EXPLORATION LTD
Vancouver, British Columbia
We Seek Safe Harbour.
This news release includes "forward-looking information" within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation: geological interpretations, operating and capital costs and operating or financial performance. For any forward looking information given, management has assumed that the assay results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from management's expectations include: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for co-operation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in the Company's other filings with Canadian securities regulatory authorities at www.sedar.com. The forward-looking information in this news release is based on management's current expectations and the Company assumes no obligations to update such information to reflect later events or developments, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pediment Exploration Ltd.
Gary Freeman
(604) 682-4418
or
Pediment Exploration Ltd.
Michael Rapsch
(604) 682-4418
(604) 669-0384 (FAX)
Website: www.pedimentexploration.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
© Copyright CCNMatthews
|
