Source Exploration (SOP-V) March 13, '14 seven new infill drill holes drilled at the El Dorado target of the Las Minas Project have confirmed the results outlined by earlier exploration drilling. The seven holes are part of a planned two phase program totaling approximately 2,800 metres of delineation drilling at the El Dorado and Santa Cruz discovery areas. The mineralized skarn zone at El Dorado remains fully open to the east and west and continues towards the south where it is believed to merge with the higher grade Santa Cruz zone. Previously reported exploration drilling at Santa Cruz intersected high–grade mineralization in hole LM-11-SC-45, which returned 15.89 grams per tonne gold (g/t Au) 12.98 grams per tonne silver (g/t Ag) and 2.25 percent copper (% Cu) over 10.0 metres(m) – see press release January 26, 2012. The El Dorado and Santa Cruz zones are only two of the several known mineralized skarn zones that occur on the property.
The gold – silver and copper mineralization zone outlined in the infill drilling is genetically related to the Las Minas granodiorite intrusive and the hydrothermal systems that accompanied granitoid emplacement. The Las Minas granodiorite intrusive measures approximately 10 kilometres in diameter and underlies the Las Minas concessions.
NEW DRILL RESULTS
Selected drill highlights from the first seven holes of infill drilling include:
Hole LM-14-ED-03 returned:
0.77 g/t Au, 13.4 g/t Ag, 5.37% Cu or 10.2 g/t Au Eq over 2.0 metres within 6.9 m grading 0.28 g/t Au, 4.74 g/t Ag, 1.76% Cu or 3.37 g/t Au Eq within 18.2 m grading 0.27 g/t Au, 3.35 g/t Ag , 0.93% Cu or 1.91 g/t Au Eq
Hole LM-14-ED-05 returned:
1.60 g/t Au, 5.56 g/t Ag, 0.92% Cu or 3.26 g/t Au Eq over 6.0 m
Hole LM-14-ED-07 returned:
1.66 g/t Au, 8.31 g/t Ag, 0.91% Cu or 3.36 g/t Au Eq over 2.4 m 0.57 g/t Au, 4.32 g/t Ag, 1.10% Cu or 2.52 g/t Au Eq over 11.4 m. President & CEO, Brian Robertson said, "We are excited about these new drill results, which supports the results of previous drilling and bodes well for the development of an initial resource estimate. Recent results confirmed that the mineralized skarn zone at El Dorado remains open both on strike and down dip.”
Table 1 Selected Las Minas Project Drill Results, March 2014
Hole No.
| From
(M)
| To
(M)
| Interval
(M)
| Gold
g/t
| Silver
g/t
| Copper
%
| Au Eq(1)
g/t
| LM-14-ED-01
| 111.7
| 117.7
| 6.0
| 0.74
| 1.60
| 0.53
| 1.67
| | |
|
|
|
|
|
| LM-14-ED-02
| 103.0
| 112.2
| 9.2
| 0.38
| 2.00
| 0.43
| 1.15
| |
|
|
|
|
|
|
| LM-14-ED-03
| 110.3
| 128.2
| 18.2
| 0.27
| 3.35
| 0.93
| 1.91
| Including
| 110.0
| 114.0
| 4.0
| 0.75
| 6.80
| 1.17
| 2.85
| Including
| 121.3
| 128.2
| 6.9
| 0.28
| 4.74
| 1.76
| 3.37
| Including
| 124.1
| 126.1
| 2.0
| 0.77
| 13.4
| 5.37
| 10.17
| | | | | | | | | LM-14-ED-04
| 125.7
| 139.8
| 14.1
| 0.44
| 1.55
| 0.39
| 1.14
| Including
| 125.7
| 135.8
| 10.1
| 0.56
| 1.95
| 0.49
| 1.43
| |
|
|
|
|
|
|
| LM-14-ED- 05
| 135.4
| 141.4
| 6.0
| 1.60
| 5.56
| 0.92
| 3.26
| | | | | | | | | LM-14-ED-06
| 51.2
| 53.6
| 2.4
| 0.23
| 4.77
| 0.63
| 1.39
| |
|
|
|
|
|
|
| LM-14-ED- 07
| 12.9
| 15.4
| 2.4
| 1.66
| 8.31
| 0.91
| 3.36
| and
| 41.4
| 44.4
| 3.0
| 1.38
| 3.28
| 0.17
| 3.04
| and
| 59.3
| 70.7
| 11.4
| 0.57
| 4.32
| 1.10
| 2.52
| |
|
|
|
|
|
|
| (1) Gold equivalent (Au Eq) calculations use metal prices of US$ 1200/oz. for gold, US$ 19.00/oz. for silver and US$ 3.00/lb. for copper. No adjustments have been made for potential relative differences in metal recoveries.
Au Eq g/t equals Au g/t + (Ag g/t x 0.016) + (Cu% x1.71)
All intervals are reported as down-hole lengths and based down – hole structural data, the intercepts may be approximately 95% of true thickness. Assays are uncut, length weighted average values.
Quality Assurance/Quality Control
The technical information in this news release has been reviewed and approved by Sonny Bernales,P.Geo., a registered Professional Geoscientist in the Province of British Columbia and a qualified person as defined by National Instrument43-101. Mr.Bernales is responsible for logistics and supervision of all exploration activity conducted by Source on the property.
The Company has implemented and adheres to a strict Quality Assurance/Quality Control program which includes inserting mineralized standards and blanks into the sample stream, about 1 for every 10 samples. The standards and blanks were obtained from CDN Resource Laboratories Ltd. of Langley, BC, Canada. Each sample bag is properly sealed and kept in a secured, restricted storage place prior to shipping to the lab. Samples are shipped directly by Source or picked-up by the lab vehicle with chain of custody/sample submittal signed and dated. The Company sends it samples to SGS Mineral Services (ISO/IEC 17025) at Durango, Mexico, an accredited laboratory.
About Source Exploration
Source Exploration is a Canadian based mineral exploration company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals deposits in Mexico. Source is exploring the Las Minas project, which is located in the core of the Las Minas district in the Veracruz State, Mexico. The district is host to one of the largest under explored skarn systems known in Mexico and has a strong production history that dates back to the Aztec era.
For more information, please contact:
Brian Robertson, President & CEO
Phone: 807-474-4271 or 807-251-1816
Fax: 807-474-4272
E-mail: info@sourceexploration.com
Website at www.sourceexploration.com |
