Cerro Resources NL has received drill results with significant high-grade silver, lead and zinc mineralization intercepted at the Namiquipa Silver Project, in Chihuahua, Mexico.
Highlights
- 14 hole-assays from current 2-drill program targeting extension of historic Princesa and America vein systems and newly identified veins;
- Zones of good grade mineralization with short intervals of noteworthy grade encountered, including:
- NAM-009: 16m @ 921g/t AgEq from 202m, including 1m @ 14,741g/t AgEq
(12,136g/t Ag, 26.97% Pb and 6.06% Zn) ;
- NAM-014: 7.5m @ 601g/t AgEq from 354.4m, including 1m @ 1,606g/t AgEq;
- NAM-016: 13m @ 272g/t AgEq from 301m;
- Potential extension to Princesa Vein identified - NAM-018: 15m @ 184g/t AgEq from 102m, including 3.6m @ 535g/t AgEq and 10m @ 272g/t AgEq from 156.6m, including 1.2m @ 1,583g/t AgEq;
- Drill program extended to minimum of 20,000m of core drilling;
- Vein extension drilling also identifying further potential.
Two drill rigs operating at the Namiquipa Silver Project have completed 39 drill holes for a total of 14,000 meters of core. Assay results have been received for 14 drill holes, including NAM-001; NAM-002; and NAM-003 previously announced, with others pending.
Princesa Vein
Eight core holes (NAM-001, NAM-002, NAM-003, NAM-004, NAM-008, NAM-009, NAM-014 and NAM-016) targeted the down dip extension of the Princesa Vein system.
Of those, results for NAM-001, NAM-002 and NAM-003 were previously reported in the Press Release of August 11, 2011. Mineralization along the Princesa Vein system remains open at depth and along strike to the north. To the south drilling is intersecting extensions or splays of mineralization which are currently being tested with two core drill rigs.
Initial drill holes have been designed to test potential extensions of the vein mineralization from the historic La Venturosa Mine which produced an estimated 14.4 million ounces of silver, 32,550 tonnes of lead and 43,530 tonnes of zinc from two prominent quartz/breccias vein systems; the America and Princesa.
The drill results to date indicate the mineralized system continues at depth along the Princesa vein system with the geological setting suggesting significant potential for high grade material to be hosted in additional vein spurs/shoots.
Based on the results from the first core drilling assays, previously reported in August 2011, the drill program was expanded from 10,000m to 20,000m. The core program which has targeted the main vein systems at the historic La Venturosa Mine has successfully continued to intersect broad zones of both silver as well as lead and zinc mineralization, highlighted by 16m of 921g/t AgEq including 1m containing 12,261g/t Ag, along with 26.97% Pb and 6.06% Zn.
One drill rig has been devoted to the prime target and potential resource definition along the Princesa vein system. Mineralization continues to contain high levels of both lead and zinc with values in both elements ranging to highs of 20%.
The second core rig brought to the project has focused on exploration of possible extensions of the known systems as well as testing for new systems. In addition, ground magnetic anomalies are also being tested along the known and projected strike length of the main vein systems.