Silvermex Resources, a publicly traded mining company, has declared surface drilling results from its La Guitarra property in the Temascaltepec Mining District, Mexico.
Till January 2012, the company has completed 59 holes that include 7,633 m in 2011 and 2,290 m in January 2012 totaling 9,923 m of the 7,500 m surface diamond drill campaign declared in September 2011. The company has received the assay results for 40 holes, wherein results for eight holes were released in November 2011.
Drilling was performed in the Coloso region, which lies northwest to the La Guitarra mine. The Coloso area includes three key regions. The first region of interest lies at the Coloso area’s southeast end and signifies three structures such as the Joya Larga Vein, Jessica Hanging Wall Vein and the Jessica Vein. In 2011, approximately 37 drill holes were completed in this region. The Joya Larga and the Jessica structures are parallel in strike, about 50 m apart on surface and plunge in reverse directions. These structures are estimated to intersect 250 to 300 m beneath the surface. Drilling has discovered 300 m of strike length of mineralization on the Joya Larga Vein, 250 m on the Jessica Hanging Wall Vein, and 400 m on the Main Jessica Vein. Undiluted thickness of the Main Jessica Vein is about 1.3 m; the Jessica Hanging Wall Vein has a thickness of 1 m; and the Joya Larga at about 0.7 m of mineralized structure. The Main Jessica Vein remains exposed to the southeast and at depth.
In the Coloso area, the second region of interest is the Nazareno structure, which lies 500 m to the southwest and analogous to the Joya Larga/Jessica zone. Drilling has discovered Hanging Wall Veins with mineralization to a depth of 150 m beneath the surface and a strike length of about 850 m of the Nazareno system in a core Nazareno Vein. On the Nazareno structures, about 18 holes have been drilled since the initiation of the present drill campaign. Typical thicknesses of the mineralized structures are 1.1 m and 1.5 m for the Hanging Wall Veins and the Main Vein, respectively.
The third region of interest is the Comales Vein, which was discovered through sampling and surface mapping. Preliminary drilling on the structure has validated the strength of the structure. About 12 drill holes have been concluded, testing roughly 600 m of strike length.
Silvermex Resources has signed a surface access contract and also received the exploration permits in February 2012 to continue the exploration program towards the northwest on the Comales Vein.