Highlights:
- Drilling has outlined high-grade silver-base metal mineralization over 1.5 strike kilometres of previously undrilled vein systems across a 750-meter-wide corridor. Mineralization remains open to depth and along strike to the south-east.
- Recent
El Cristo results include: - 9.00 m @ 158 g/t Ag Eq (149 g/t Ag, 0.05 g/t Au, 0.08% Zn and 0.05% Pb) from 17.87 meters downhole (CRI-2022-018)
- 0.82 m @ 592 g/t Ag Eq (84 g/t Ag, 0.14 g/t Au, 3.7% Zn and 11.8% Pb) from 69.10 meters downhole (CRI-2022-020)
- 3.00 m @ 262 g/t Ag Eq (250 g/t Ag, 0.07 g/t Au, 0.1% Zn and 0.04% Pb) from 21.00 meters downhole (CRI-2022-026)
- 2.10 m @ 204 g/t Ag Eq (200 g/t Ag, 0.03 g/t Au, 0.03% Zn and 0.01% Pb) from 47.14 meters downhole (CRI-2022-017)
- 1.60 m @ 181 g/t Ag Eq (175 g/t Ag, 0.02 g/t Au, 0.06% Zn and 0.05% Pb) from 4.40 meters downhole (CRI-2022-027)
- Drilling at El Cristo mainly focused on testing previously undrilled vein systems to the south-east of the project, which are now interpreted to be the western extensions of the
Veta Grande vein system. - The Company completed 28 diamond drill holes at El Cristo for a total of 2,815 meters.
Dr.
Mineralization at El Cristo is of an intermediate sulphidation epithermal type, which crop out with a dilutional zone that is at least 3 km along strike and up to 600 m wide. Within this zone multiple, steeply dipping, northwest-southeast trending veins, which have been mined historically from at least 20 near surface shafts and multiple areas of near surface workings.
Historically, the El Cristo vein system was only tested by 8 angled diamond drill holes which targeted veins at depths of below 100 to 200 metres. Of these six were concentrated within a 500 m strike length in the central parts of the veins.
Drill holes targeted the near surface depth extension of the larger surface workings and/or the depth extension of veins around the deeper historical shaft. The 28 holes drilled to date by the Company have been scout holes also designed to test select veins over at least 2 km of strike extension.
As exploration continues at the silver projects, we are systematically and efficiently advancing the
Hole CRI-2022-018 encountered a broad zone of stockwork style oxide mineralization for intercepting 9 meters @158 g/t Ag Eq (149 g/t Ag, 0.05 g/t Au, 0.08% Zn and 0.05% Pb) from 17.87 meters downhole.
Hole CRI-2022-017 intercepted 2.10 m @ 204 g/t Ag Eq (200 g/t Ag, 0.03 g/t Au, 0.03% Zn and 0.01% Pb) from 47.14 meters downhole.
Hole CRI-2022-020 targeted a new vein identified via mapping, over 200 meters south of any historic drilling, intercepting 0.82 m @ 592 g/t Ag Eq (84 g/t Ag, 0.14 g/t Au, 3.7% Zn and 11.8% Pb) from 69.10 meters downhole.
Hole CRI-2022-026 targeted the northwestern strike extension of the 9.53-meter mineralised intercept encountered 50 meters to the southeast in hole CRI-2022-001. Intercepting a 3-meter-wide zone of backfill material grading 262 g/t Ag Eq (250 g/t Ag, 0.07 g/t Au, 0.1% Zn and 0.04% Pb) from 21.00 meters downhole.
Hole CRI-2022-027 targeted the southeastern strike extension of mineralisation encountered in hole CRI-2022-17 and 18. Intercepting 1.60 m @ 181 g/t Ag Eq (175 g/t Ag, 0.02 g/t Au, 0.06% Zn and 0.05% Pb) from 4.40 meters downhole
Table 1. Assay Results from Drill Program
Hole ID | East | North | Azimuth | Dip | From | To | Downhole | Ag | Au | Zn | Pb | Aq |
CRI-2022-017 | 748570 | 2529548 | 215 | 40 | 24.42 | 26.19 | 1.77 | 106 | 0.23 | 0.02 | 0.06 | 126 |
CRI-2022-017 | 748570 | 2529548 | 215 | 40 | 47.14 | 49.24 | 2.1 | 200 | 0.03 | 0.03 | 0.01 | 204 |
CRI-2022-018 | 748569 | 2529549 | 215 | 60 | 17.87 | 26.87 | 9.0 | 149 | 0.05 | 0.08 | 0.05 | 158 |
CRI-2022-018 | 748569 | 2529549 | 215 | 60 | 54.93 | 55.46 | 0.53 | 200 | 0.34 | 0.85 | 0.76 | 289 |
CRI-2022-018 | 748569 | 2529549 | 215 | 60 | 99.98 | 100.6 | 0.62 | 23.2 | 0.19 | 2.9 | 0.41 | 199 |
CRI-2022-019 | 748929 | 2528842 | 228 | 40 | 101.5 | 102.05 | 0.55 | 127 | 0.14 | 0.69 | 0.04 | 142 |
CRI-2022-020 | 748930 | 2528843 | 228 | 60 | 69.10 | 69.92 | 0.82 | 84 | 0.14 | 3.7 | 11.8 | 592 |
CRI-2022-020 | 748930 | 2528843 | 228 | 60 | 96.52 | 97.37 | 0.85 | 45 | 0.82 | 2.4 | 1.9 | 278 |
CRI-2022-020 | 748930 | 2528843 | 228 | 60 | 97.87 | 98.34 | 0.47 | 68 | 0.6 | 5.5 | 3.8 | 489 |
CRI-2022-021 | No Significant Assay | |||||||||||
CRI-2022-022 | 747571 | 2530201 | 219 | 40 | 80 | 80.49 | 0.49 | 12 | 0.27 | 1.61 | 0.1 | 118 |
CRI-2022-023 | No Significant Assay | |||||||||||
CRI-2022-024 | 748569 | 2529636 | 215 | 40 | 31.20 | 32.24 | 1.04 | 126 | 0.02 | 0.04 | 0.03 | 130 |
CRI-2022-025 | No Significant Assay | |||||||||||
CRI-2022-026 | 748564 | 2529633 | 215 | 85 | 21 | 24 | 3 | 250 | 0.07 | 0.1 | 0.04 | 262 |
CRI-2022-027 | 748640 | 2529465 | 205 | 40 | 41.07 | 41.62 | 0.55 | 198 | 0.06 | 0.02 | 0.04 | 205 |
CRI-2022-027 | 748640 | 2529465 | 205 | 40 | 4.40 | 6.0 | 1.6 | 175 | 0.02 | 0.06 | 0.05 | 181 |
CRI-2022-028 | No Significant Assay |
Additional drilling is required to determine true widths as all hole intercepted veins at an oblique angle. The assays are not capped. Assumptions used in USD for the silver equivalent calculation were metal prices of
The contents of this news release have been reviewed and approved by
The
The property is 25 kilometres (km) southeast of MAG Silver Corp.'s Juanicipio mine and Fresnillo PLC's Fresnillo mine. The property shares common boundaries with Pan American Silver Corp. claims and
Additionally,
To date, significant core and reverse circulation drilling has occurred at the Esperanza gold project, resulting in a total of 389 drill holes for 69,716 metres. Four targets adjacent to or close to the historical resource were identified to potentially expand the historical resource. The project also hosts seven regional exploration targets, largely untested, that also merit drill testing.
Alamos reported in its most recent annual information form a resource estimate of a measured and indicated resource of 34,352,000 tonnes at 0.98 g/t gold and 8.09 g/t silver for 1,083,366 ounces of gold and 8,936,201 ounces of silver and inferred resource of 718,000 tonnes at 0.80 g/t gold and 15.04 g/t silver for 18,375 ounces of gold and 347,192 ounces of silver. The Company considers this to be an historical resource for the purposes of National Instrument 43-101. Resource blocks were defined using with dimensions of 10 metres (m) by 10 m by five m. The estimation of grades was performed with the ordinary kriging method on capped composites. An added step in the estimation strategy was the utilization of the dynamic anisotropy technique in Vulcan's unfolding options. This added capability allows for a more realistic outcome of the estimated grade's spatial distribution as it follows the folded shape of the deposit. Assumptions used in the resource include the following metal prices: gold price of $1,400 (
The Company has not done sufficient work to classify the resource as a current mineral resource or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. Although the resource estimate is considered reliable, the Company will resample a portion of the drill core for the purpose of carrying out a new resource estimate. Furthermore, additional data verification, including resurveying of select diamond drill holes collars; review of graphic drill core logs, comparison of these logs with remaining half-cut core and a cross check of select geological logs agonist database entries; and a check of original assay certificates against the assays and drill hole database.
On behalf of the Company
Chief Executive Officer and Director
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance.
Neither
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