Here is the release, Eric. good luck..
Prior Resources Ltd - News Release
El Trejo trenching results
Prior Resources Ltd PQL
Shares issued 29,238,796 Jan 6 close $0.17
Mon 6 Jan 97 News Release
Mr Dalton DuPasquier reports
A trenching program in the El Trejo project in Mexico has been completed
over an area of interest with significant quartz float that was located and
partially intersected in the previous 18 hole drill program. The drill core
shows trace to economic amounts of gold and silver mineralization over
significant intersections in all holes in this target zone. The highest
values were obtained in hole No. 7 with 107ft averaging 1.15 g/t Au,
containing an 8ft section grading 17.5 g/t Au and 31.6 g/t Ag.
The trenches were cut with a D7 dozer to a depth of 2m reaching solid rock.
The assaying gave gold values in all trenches with the following results:
Au
Trench (m) (g/t)
------ ---- ------
1 10 0.86
2 1 0.50
3 4 0.35
and 12 1.35
4 14 1.40
and 18 1.13
5 4 0.65
6 9 0.80
7 13 1.10
8 5 2.50
9 2 0.78
All trenches were in the target tuffaceous breccia, which shows varying
facies of coarse to fine fragment size, a green to grey colour, a
silicified and quartz grained matrix, significant chloritic or propolytic
alteration, significant quartz and calcite stock working, and important
amounts of disseminated pyrite. The gold values are associated with a
higher degree of silification and more quartz stockworking in the same
green-grey breccia.
These surface values represent economic mineralization, up to 10 g/t Au,
within an open pit boundary 150m wide and 600m long (still open on strike).
The depth proven by drilling and relief to 150m, indicates a clear
potential of 300,000 mineable ounces with a strip ratio of 2:1.
The company will undertake a two phased reverse circulation drill program.
The holes would be spaced to prove reserves and mine feasibility. A 50 to
100 foot spacing, drilling to 150 foot depth, aligned N 40 degrees W and
dipping at 75 degrees. Each stage of 70 drill holes would cost US$500,000.
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