Highlights:
- On
July 1 , drilling began atLas Minas to follow up on the new gold discovery made in 2019 at the Cinco Senores Vein target (5.2m of 8.7 g/t gold from 114m, including 2m of 21.37 g/t gold, estimated 85% true-width). - Exploration drilling will test the Changarro gold target for the first time and follow-up on exciting results at both the Cinco Senores Skarn and Las Minillas targets.
- Expansion and upgrade drilling is planned to optimize the current resource at
El Dorado for inclusion in the upcoming PEA Study. - As detailed in a press release on
June 9, 2020 , CTA has now completed fieldwork for an environmental baseline study of theLas Minas project area. - An expanded and enhanced metallurgical study is in process with
ALS Laboratories inKamloops, BC , and an airborne LiDAR survey is scheduled for the week ofJuly 6 with LiDAR America ofVentura, CA
“We are excited to follow up on last year’s discovery of the Cinco Senores Vein target, where the Company intersected 2m of 21.37 g/t gold in a new zone. This discovery demonstrates the well-endowed nature of
Drilling Program
Mexican Gold has begun its 2020 diamond drilling program which will include 10,000m of both resource and exploration drilling.
A focus of the 2020 drilling is to expand and upgrade the current resource at
Drilling will also follow up the
Fieldwork from late 2019 at the Changarro prospect has defined 2 parallel, high-grade vein trends within a 25m wide, NNW-trending deformation corridor. From a newly rediscovered mine on the west vein, 3m-spaced chip samples averaging 0.65m in width returned an average of 8.82 g/t gold along the entire 52m drift. These recent results complement 2018 chip sampling on the east vein trend of 13.04 g/t Au over an 8m width. Drilling is planned to test the down-dip continuity and strike extent of this zone, the first clear drill target at Changarro.
The
The Las Minillas skarn occurrence shows extensive mineralization on surface and underground, but has only been tested by 3 holes over a 400m width. Hole LM-11-LM-24 near the Minillas mine returned 7.52 g/t Au equivalent over 2m in very poor recovery. Recent hole LM-19-LM-03 450m from the mine averaged 100ppb Au over 42m of endoskarn, suggesting significant nearby exoskarn mineralization. Drilling in 2020 will target strong EM conductors and
Environmental Baseline Study
Consultoría y Tecnología Ambiental has completed the fieldwork portion for an environmental baseline study at the
This initial environmental baseline project will complement Mexican Gold’s forthcoming preliminary economic assessment study in advancing the
Enhanced Metallurgical Study
The metallurgical work now in process expands the scope of the previous metallurgical study in 2015. Multiple portions of the deposit are being tested individually for ore-blending compatibility and further work on tailings characteristics, process refinement, and extraction of a subsidiary magnetite concentrate will follow. Results and reporting are expected in August, 2020.
LiDAR Digital Terrain Model
A digital terrain model (“DTM”), accurate to within 10cm, will cover 50 km2 including and surrounding the
Quality Assurance/Quality Control
The technical information in this news release has been reviewed and approved by Sonny Bernales, P. Geo., a registered Professional Geoscientist in the Province of
The Company has implemented and adheres to a strict Quality Assurance/Quality Control program which includes inserting mineralized standards and blanks into the sample stream, about 1 for every 10 samples. The standards and blanks were obtained from
About
Mexican Gold is a Canadian based mineral exploration and development company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the
For more information, please contact:
Philip O’Neill – CEO, President, and Director
E-mail: info@mexicangold.ca
Website at www.mexicangold.ca
Neither the
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Mexican Gold within the meaning of applicable securities laws. Mexican Gold provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to market conditions, exploration findings, results and recommendations, as well as those risks and uncertainties identified and reported in Mexican Gold’s public filings under Mexican Gold’s SEDAR profile at www.sedar.com. Although Mexican Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Mexican Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Source:
2020 GlobeNewswire, Inc., source