Do you still have NWI - doing real well. 400,000 on the bid at .52. You gave me that one-lol. I bought FAN. look at latest driling results and total tonnage.
Yeah John mcarthy and LC are warriors-lol.
Farallon Resources Ltd (C-FAN) - News Release
Farallon drills 6 m of 1.38 gpt Au, 17.01% Zn at G-9
2006-11-14 13:58 ET - News Release
Shares issued 105,822,331
FAN Close 2006-11-13 C$ 0.54
Mr. Dick Whittington reports
FARALLON ANNOUNCES NEW RESOURCE ESTIMATE & DRILL RESULTS -- G-9 RESOURCE INCREASED BY 55% -- HIGH GRADE STARTER ZONE OUTLINED AT SOUTHEAST ZONE
Farallon Resources Ltd. has released the results of a recent resource estimate and new assays from core drilling for the G-9 deposit at the company's Campo Morado polymetallic (zinc, gold, silver, copper and lead) project in Guerrero state, Mexico.
G-9 resource increased by 55 per cent
A new resource estimate of the mineral resources at G-9 has been completed by Farallon's geological staff, and is based on 134 drill holes which define and delineate the various massive sulphide and replacement zones discovered to date. The analysis used 3-D Vulcan modelling techniques and internal factors based on prior experience at Campo Morado. The currently outlined dimensions of the overall deposit are 650 metres by 900 metres. Within the deposit, there are several zones, characterized by grade and mineral occurrence. As drilling has proceeded, some zones have been connected (for example, the central and southeast zones are now connected) and detailed drilling planned from underground (described below) may show more continuity to the deposit. The current inferred mineral resources for each zone and for the total deposit, at 2 per cent and 8 per cent zinc cut-offs, are tabulated below.
G-9 DEPOSIT -- INFERRED MINERAL RESOURCES
Zone Cut-off Tonnes Gold Silver Copper Lead Zinc
Zn % gpt gpt % % %
Southeast 2.0 1,460,000 2.7 202 1.9 1.2 11.5
8.0 890,000 2.3 179 2.1 1.3 15.7
North 2.0 2,370,000 3.7 223 1.3 1.1 7.0
8.0 790,000 3.6 231 1.6 1.2 11.0
Southwest 2.0 1,250,000 2.0 136 0.9 0.8 3.8
8.0 10,000 2.3 183 1.0 1.4 8.7
Replacement 2.0 490,000 1.3 86 1.0 0.8 5.4
8.0 70,000 1.8 156 2.2 2.0 12.6
--- --------- --- --- --- --- ----
Total 2.0 5,570,000 2.8 186 1.3 1.0 7.3
8.0 1,770,000 2.9 201 1.9 1.3 13.4
Development of a decline to access the deposit for detailed drilling from underground is currently under way. The underground drilling will provide additional details on the predictability of the mineralization at G-9 to enable reclassification of the mineral resources. The planned 5,000-metre infill program at 25-metre drill hole spacing is designed to outline sufficient mineralization in the measured and indicated categories for mine planning.
High-grade starter zone outlined at southeast zone
As described in Stockwatch news dated Sept. 25, 2006, thick intersections of high-grade mineralization were encountered in hole No. 576 and No. 578 -- step-outs from the G-9 discovery hole 420, which was in a high-grade area previously known as the central zone of the G-9 deposit. Information derived from these holes was used to reinterpret the geology in this area, resulting in an increase in the true width of the intersection in hole No. 420 from eight to 14 metres. Additionally, these new results and those recently received for hole No. 580, extend the high-grade central zone to the east and southeast, indicating that the central zone is now part of the southeast zone. The new assays for hole No. 580 are shown in the table below with those from each of the holes mentioned above.
SOUTHEAST ZONE -- HIGH-GRADE STARTER ZONE ASSAYS
Hole From To Int. True width Gold Silver Copper Lead Zinc
No. m m m m gpt gpt % % %
420 377.4 392.3 14.9 14.0 1.06 67 1.76 0.69 14.2
576 402.3 416.3 14.0 13.8 0.43 33 2.13 0.11 14.79
578 400.5 406.5 6.0 6.0 1.38 103 3.35 1.10 17.01
578 413.5 417.5 4.0 4.0 0.17 13 1.38 0.04 8.24
580 382.3 387.1 4.8 4.1 3.42 264 1.65 2.21 15.6
580 389.2 391.2 2.0 1.8 0.93 53 1.82 0.30 10.9
The southeast zone adds significantly to the resources of G-9 and provides an excellent target for early development, further supporting the goal to develop a mine at G-9. The G-9 deposit remains open to the southwest, northwest and southeast. Drilling continues and is focused exclusively on G-9. Additional assay results will be released when received.
Dick Whittington said: "The results of the new resource estimate are very encouraging. In particular, the combination of the very-high-grade central zone with the southeast zone provides a high-grade target for early mine production. The ability to high grade in the initial years would significantly enhance the economics of a proposed mine at G-9. The G-9 deposit still remains open in three directions, so we expect that further additions will be made to the G-9 resource base."
The in-house qualified person for the resource estimate is David Gaunt, PGeo, and for the drilling program is Daniel Kilby, PEng. A technical report describing the G-9 resource estimate will be filed within 45 days.
Farallon's drilling programs include rigorous quality assurance and quality control procedures under the supervision of qualified persons. ALS Chemex is the analytical laboratory for the project -- sample preparation is done in Guadalajara, Mexico, and analysis is done in Vancouver, B.C. All samples are assayed for gold by fire assay fusion with a gravimetric or atomic absorption (AA) finish. Silver, copper, lead, zinc and 27 to 30 additional elements are determined for all samples by acid digestion, followed by an AA or ICP finish. Duplicates are analyzed by Acme Analytical Laboratories in Vancouver.
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