Drilling commenced on
Completed Holes
The San Jose SJ-21 hole began the drilling program and was completed to a depth of 250.20 meters. This hole cut: 1) recrystallized limestone with phyllic alteration; 2) dikes and sills of intermediate composition with phyllic and argillic alteration; 3) an interval of approximately 60 meters with multiple bodies with mineralization (some of them up to 2.5 meters thick) composed of hydroxides, hematite, calcite, as well as locally sulfides and quartz; 4) hydrothermal breccias cemented by calcite and limonite series, and 5) isolated mineralized bodies composed of quartz, hydroxides, calcite and hematite. This hole demonstrated a lithological block with open geological-mining-economic potential at depth in the
The San Jose SJ-22 hole followed and was completed to a depth of 200 meters. The hole cut a series of mineralized structures striking generally NE, as well as mineralized structures that are semi-parallel to the axis of this hole core. These bodies are composed of quartz, calcite, limonite series, hematite, and local sulfides.
Hole SJ-20 was added by Galore's geological team to better understand what was being observed in holes SJ-21 and SJ22. The SJ-20 was completed at a depth of 214 meters. This hole showed: 1) the presence of dikes of intermediate composition with phyllic and argillic alteration, which intruded through a carbonated marine sedimentary sequence; 2) parallel mineralized bodies composed of quartz, limonite series, calcite and hematite and 3) a halo of phyllic alteration and recrystallization in the carbonate marine sedimentary sequence.
This exploration has confirmed that the
The core from the three holes will provide us with very important data to define more clearly the structural setting of gold mineralization. Drilling at
Subsequent to the
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This news release includes 'forward-looking statements' and 'forward-looking information' within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as 'anticipate', 'believe', 'plan', 'estimate', 'expect', 'potential', 'target', 'budget' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could' or 'might' occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the Company's ability to conduct a drill program at its Mexican mineral properties and the timing thereof, the prospective deposits, targets and mineralization at the properties and the anticipated receipt and timing of necessary governmental or third-party approvals and permits.
Such forward-looking information reflects management's current beliefs and is based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There are no assurances that the Company will obtain the necessary permits for and successfully complete the proposed technical and drill program at
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