The Conversation (0)
Source Exploration (TSXV:SOP,FWB:4QW) reported it has found a new highly mineralized zone as a result of recent drilling at the Nopaltepec target at its Las Minas property. One discovery hole included intercepts of 5.74 grams per tonne of gold equivalent over 17 meters, including 5 meters grading 13.7 grams per tonne equivalent and containing 1 meter grading 35.02 grams per tonne of gold equivalent.
As quoted in the press release:
Additional and separate mineralized intercepts included 1.33 g/t Au Eq over 10.3 metres, 2.21 g/t Au Eq over 8.0 metres, 0.55 g/t Au Eq over 44.0 metres and 1.20 g/t Au Eq over 4.0 metres. The hole ended in mineralization. The new zone occurs approximately 100-150 metres above the downward projection of the recently drilled El Dorado /Juan Bran zone – see press releases dated May 7 & 26, 2015. The grades and type of mineralization are similar to the high –grade mineralization at the Santa Cruz target, located approximately 250 metres to the east.
Discovery hole LM-15-NP-01 was drilled to explore for mineralization in an area located across a small canyon from the high –grade Santa Cruz zone. The hole intersected multiple mineralized intercepts from near the collar to a depth of 191.0 metres. A high-grade intercept grading 5.74 g/t Au Eq over 17.0 metres was intersected from 108.7 metres to 125.7 metres. Higher up in the hole, 1.33 g/t Au Eq over 10.3 metres was intersected from 18.5 to 28.7 metres, as well as an additional 8.0 metre intercept grading 2.21 g/t Au Eq from 83.0 to 91.0 metres. Deeper in the hole, a long intercept measuring 44.0 metres grading 0.55 g/t Au Eq was intersected from 153.0 to 191.0 metres. The hole ended in mineralization, with the bottom 4.0 metres grading 1.20 g/t Au Eq..
Holes LM-15-NP- 02 and 03 were drilled as step –out holes to the south. They were not extended to depth due to a concentration of post mineralization dykes in this part of the zone. Hole LM-15-NP- 02 intersected 1.42 g/t Au Eq over 7.4 metres, contained within 10.5 metres grading 1.22 g/t Au Eq. Hole LM-NP-03 returned 0.42 g/t Au Eq over 8.0 metres near the collar of the hole.
Source Exploration Chairman, David Baker, said:
We are very excited about the discovery of high- grade mineralization over significant intervals at Nopaltepec. The numerous intercepts and their close proximity to the high-grade Santa Cruz zone lead Source’s management team to believe that the two zones are part of the same mineralizing system, with considerable opportunity to define a mineral resource.
Click here to read the Source Exploration (TSXV:SOP,FWB:4QW) press release
Click here to see the Source Exploration (TSXV:SOP,FWB:4QW) profile.