- A maiden diamond drill program is targeting intermediate sulphidation veins at the El Cristo project.
El Cristo is the NW strike extension of the well-knownVeta Grande system. - Initial
El Cristo results include: - 9.53 meters @ 175 Ag Eq (167 g/t Ag, 0.12 % Zn and 0.04 % Pb) from 40.03 meters in hole CRI-2022-001
- 1.45 meters @ 121 Ag Eq (11.3 g/t Ag, 1.6 % Zn and 0.48% Pb and 0.18 g/t Au) from 109.05 meters in hole CRI-2022-002
- 0.65 meters @ 829 g/t Ag Eq (565 g/t Ag, 1.2 g/t Au, 2.7 % Zn and 1.3 % Pb) from 55.15 meters in hole CRI-2022-005
- 4.36 meters @ 242 g/t Ag Eq (48 g/t Ag, 0.19 g/t Au, 2.7% Zn and 1.5% Pb) from 54.34 meters in hole CRI-2022-012
- 0.5 meters @ 974 g/t Ag Eq (19.6 g/t Ag, 0.23 g/t Au, 17.5% Zn and 1.0% Pb) from 70.3 meters in hole CRI 2022-013
- To date the Company has completed 28 holes for 2811 metres with assay results pending for 15 holes.
Dr.
Mineralization at El Cristo is of an intermediate sulphidation epithermal type, which crop out within a dilutional zone that is at least 4 km along strike and up to 600 m wide. Within this zone are 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.
Hole CRI-2022-001 intercepted 5 metres of back-fill material and 4.5 m of footwall mineralization for a combined intercept of 9.53 meters @ 175 Ag Eq (167 g/t Ag, 0.12 % Zn and 0.04 % Pb) from 40.03 m downhole. It seems likely that the back-fill was lower grade material used to fill the void left from mining a higher grade vein.
Hole CRI-2022-002 was a step-down of hole 001, which targeted the vein approximately 40 m vertical deeper, and intercepted 1.45 meters @ 121 Ag Eq (11.3 g/t Ag, 1.6 % Zn and 0.5% Pb and 0.18 g/t Au) from 109.05 m downhole.
Holes CRI-2022-003 to 007 were drilled off the same drill pad in the same line of section to intercept the vein progressively deeper. Hole CRI-2022-003 intercepted an approximately 5 m wide historical mining void where the target vein had been removed. Results from holes CRI-2022-006 and 007 are pending.
Hole CRI-2022-004 intercepted 0.4 m @ 163 g/t AgEq (12.4 g/t Ag, 2.4% Zn, 0.5% Pb and 0.18 ppm Au) from 57.81 m downhole.
Hole CRI-2022-005 targeted the vein below Hole 004 and intercepted 0.65 meters @ 829 g/t Ag Eq (565 g/t Ag, 1.2 g/t Au, 2.7 % Zn and 1.3 % Pb) from 55.15 m downhole.
Hole CRI-2002-013 encountered significant base metals resulting in 0.5 meters @ 974 g/t Ag Eq (19.6 g/t Ag, 0.23 g/t Au, 17.5% Zn, 1% Pb) from 70.3 m downhole. Also base metal rich, hole CRI-2022-12 resulted in 4.36 meters @ 242 g/t Ag Eq (48 g/t Ag, 0.19 g/t Au, 2.7% Zn and 1.5% Pb) from 54.34 m downhole.
The initial results of the maiden
Hole ID | East | North | Azimuth (deg.) | Dip (deg.) | From (m) | To (m) | Downhole Interval (m) | Ag g/t | Au g/t | Zn % | Pb % | Aq Eq |
CRI-2022-001 | 748610 | 2529615 | 215 | 40 | 40.03 | 49.56 | 9.53 | 167.0 | - | 0.12 | 0.04 | 175 |
CRI-2022-002 | 748612 | 2529619 | 215 | 70 | 109.5 | 110.50 | 1.45 | 11.3 | 0.18 | 1.6 | 0.48 | 121 |
CRI-2022-003 | 748734 | 2529206 | 218 | 40 | 38.42 | 39.22 | 0.8 | 94.4 | - | 0.11 | 0.04 | 103 |
CRI-2022-004 | 748735 | 2529208 | 218 | 70 | 43.07 | 44.15 | 1.08 | 90.5 | - | 0.09 | - | 100 |
CRI-2022-004 | 748735 | 2529207 | 218 | 78 | 57.81 | 58.21 | 0.40 | 12.4 | 0.18 | 2.4 | 0.49 | 163 |
CRI-2022-005 | 748735 | 2529208 | 218 | 85 | 55.15 | 55.80 | 0.65 | 565 | 1.2 | 2.7 | 1.3 | 829 |
CRI-2022-006 | Assays Pending | |||||||||||
CRI-2022-007 | 748733 | 2529210 | 35 | 77 | 105.47 | 105.9 | 0.43 | 12.4 | 0.08 | 1.0 | 0.8 | 92.7 |
CRI-2022-008 | 748905 | 2529163 | 193 | 40 | 59.8 | 61 | 1.2 | 134 | 0.1 | 0.24 | 0.09 | 156 |
CRI-2022-009 | 748907 | 2529166 | 193 | 60 | 63.40 | 64.25 | 0.85 | 22 | 0.13 | 1.26 | 0.8 | 118 |
CRI-2022-010 | 748905 | 2529166 | 193 | 77 | 66.19 | 66.96 | 0.77 | 13.2 | 0.18 | 2.3 | 0.50 | 159 |
CRI-2022-010 | 748905 | 2529166 | 193 | 77 | 77.81 | 78.53 | 0.54 | 9.0 | - | 1.3 | 0.74 | 95 |
CRI-2022-010 | 748905 | 2529166 | 193 | 77 | 86.64 | 87.49 | 0.85 | 2.8 | - | 2.4 | 0.13 | 133 |
CRI-2022-011 | Assays Pending | |||||||||||
CRI-2022-012 | 749475 | 2528820 | 204 | 40 | 54.34 | 58.70 | 4.36 | 48.0 | 0.19 | 2.7 | 1.5 | 242 |
CRI-2022-012 | 749475 | 2528820 | 204 | 40 | 62.93 | 63.43 | 0.5 | 81.4 | 0.66 | 1.0 | 0.13 | 187 |
CRI-2022-013 | 749476 | 2528821 | 204 | 65 | 70.30 | 70.80 | 0.5 | 19.6 | 0.23 | 17.5 | 1.00 | 974 |
CRI-2022-013 | 749476 | 2528821 | 204 | 65 | 80.25 | 80.65 | 0.4 | 7.4 | 0.22 | 1.6 | 0.46 | 116 |
CRI-2022-013 | 749476 | 2528821 | 204 | 65 | 90.47 | 91.20 | 0.73 | 23.9 | 0.51 | 2.0 | 0.41 | 179 |
CRI-2022-014 | 749476 | 2528824 | 204 | 85 | 77.02 | 78.03 | 1.01 | 11.1 | 0.17 | 1.7 | 0.31 | 120 |
CRI-2022-015 | 749476 | 2528823 | 24 | 82 | 110.37 | 110.85 | 0.48 | 118 | 0.19 | 0.1 | 0.06 | 139 |
CRI-2022-016 | Assays Pending | |||||||||||
CRI-2022-017 | Assays Pending | |||||||||||
CRI-2022-018 | Assays Pending | |||||||||||
CRI-2022-019 | Assays Pending | |||||||||||
CRI-2022-020 | Assays Pending | |||||||||||
CRI-2022-021 | Assays Pending | |||||||||||
CRI-2022-022 | Assays Pending | |||||||||||
CRI-2022-023 | Assays Pending | |||||||||||
CRI-2022-024 | Assays Pending | |||||||||||
CRI-2022-025 | Assays Pending | |||||||||||
CRI-2022-026 | Assays Pending | |||||||||||
CRI-2022-027 | Assays Pending | |||||||||||
CRI-2022-028 | Assays Pending |
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.
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