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Mines Management Inc. (TSX:MGT,NYSE:MGN) announced results from drilling at the La Estrella gold-silver project in Peru. The Company can earn a 75% interest from Estrella Gold Corp. (TSXV:EST) and the drilling program has extended the known mineralized zone by approximately 300 meters to the west.
As quoted in the press release:
Eight new holes, totaling approximately 2,700 meters, were completed in August in a program designed to test the south-western extent of a large gold and silver mineralized zone, which remains open to the north, south, and west. Seven of the eight holes intersected gold and silver mineralization exceeding 100 meters in thickness.
Previous drilling by predecessors on the property, totaling approximately 5,800 meters among 33 holes, intersected mineralization approximately 1,800 meters in length north to south by 300 meters wide east to west. The mineralization defined a tabular, west dipping zone up to 200 meters thick outcropping to the east.
Mines Management Inc. President and CEO, Glenn M. Dobbs said:
We are very encouraged by the initial drill results to see the potential for a large precious metals deposit at La Estrella. The combination of substantial zone thicknesses along with zones of higher grade mineralization make this deposit potentially very attractive, and warrant additional exploration. The initial success is reflective of thorough analysis of the historical data by our exploration team prior to preparing the drilling plan. Preparations for the program came together smoothly and quickly, enabled by existing drilling permits for the program and the rapid mobilization by our contractors and assistance from our partners at Estrella Gold.
Click here to read the Mines Management Inc. (TSX:MGT,NYSE:MGN) press release
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