Esperanza Resources has reported the new drilling results from the Southwest Extension region. The company has found mineralized gold in the recent holes drilled in this zone.
This ensures that mineralization is extended surpassing the limits of the defined resource. The company’s drill program has expanded known mineralization towards the west and the southwest region.
The company intersected 1.4 g/t gold and 0.8 g/t gold over 7.5 m in hole RCHE-11-232, 1.1 g/t gold over 19.5 m in hole RCHE-11-234, 1.1 g/t gold over 12.0 m in hole RCHE-11-235, 1.2 g/t gold over 12.0 m in hole RCHE-11-237 in the southwest extension region.
Besides drilling the southwest extension region, Esperanza will continue to perform fill in drilling in order to upgrade the resource confidence.
Currently, the company has two drilling rigs working at the Cerro Jumil project. These rigs will be used in geotechnical sampling, metallurgical sampling and additional expansion drilling for foundation design and pit-slope. The company is expecting to update the resource calculation of the Cerro Jumil project during the second half of 2012, after completing the definitive feasibility study.
A feasibility-level test program has been specifically designed by Esperanza along with McClelland Labs and Lyntek.
The company is involved in the sample collection process, which includes bulk-sampling program at five surface sites, drill program of huge diameter core from different sites and the deposit’s depths and gathering several reverse-circulation drill cuttings for employing in bottle-roll testing. Columns will be built by the company from at least six large-diameter core and five bulk-surface samples. The company will deliver all the samples to the Nevada-based McClelland laboratories for testing.