The Conversation (0)
Source Exploration Corp. (TSXV:SOP) reported that high-gradfe mineralization on strike and to depth has been extended, during step out drilling at the Santa Cruz target of the Las Minas gold project in Mexico. Hole LM-15-SC-16 was drilled to extend the high-grade mineralization in hole LM-12-SC-54 to depth, and intersected 6.54 g/t gold equivalent over 14.0 metres, contained within 24.0 metres grading 4.30 g/t gold equivalent. According to CEO Brian Robertson, these results “bode well for the development of a maiden mineral resource estimate.”
As quoted in the press release:
Highlights:
LM-15-SC-15
- 121.3 metres grading 1.91 g/t Au Eq, including
- 2.03 g/t Au Eq over 113.0 metres, including
- 4.02 g/t Au Eq over 31.2 metres, including
- 6.07 g/t Au Eq over 14.2 metres, including
- 9.73 g/t Au Eq over 6.0 metres
LM-15-SC-16
24.0 metres grading 4.30 g/t Au Eq, including
- 6.54 g/t Au Eq over 14.0 metres
Source Exploration President and CEO, Brian Robertson, said:
We are extremely pleased with these initial high-grade drill results from our 2015 drill program. The step-out drilling has confirmed the existence of high-grade mineralization in the Santa Cruz zone both on strike and to depth. These recent drilling results, plus previously reported high-grade intersections for the Santa Cruz area, bode well for the development of a maiden mineral resource estimate.
Click here to read the Source Exploration Corp. (TSXV:SOP) press release
Click here to see the Source Exploration Corp. (TSXV:SOP) profile.
Investment Highlights for Source Exploration:
- The Las Minas project is in Veracruz, which hosts one of the largest underexplored gold-silver-copper skarn systems in Mexico
- Excellent infrastructure including paved access, a river running through the property and a hydro power station for the district
- Ground magnetic and Induced Polarization surveys outlined several large scale anomalies.
- Experienced senior management team that sold its last project in 2012 to its Chinese joint venture partners for approximately $100 million
- Tightly held share structure with 74.1 million shares outstanding