Friday, 9th May 2008 (548 views)

Drilling at the Magistral mine in Mexico gas intercepted high-grade gold mineralisation as well as new gold-bearing vein structures, the company developing the site has announced.

US Gold said its drilling programme had concentrated on the La Prieta high-grade zone in order to confirm previous assay returns from the area, while also expanding existing mineralisation and testing for new structures.

Highlights of its drilling results include gold grades of 15.03 g/t gold over 12.2 metres, which was contained within an intersection graded at 7.04 g/t gold over 40.5 metres.

Other results included 40.20 g/t gold over five metres, 9.12 g/t gold over 21 metres and 9.92 g/t gold over 16 metres.

Meanwhile, drilling to expand the property's known mineralisation successfully increased resources south-east of the planned Samaniego pit area, with gold values including 2.54 g/t gold over six metres, 1.83 g/t gold over six metres and 1.88 g/t gold over six metres.

US Gold added that its work also detected a new vein, named Cerritos, which is outside Magistral's currently logged resources. Mineralisation drilled from this area included values of 1.29 g/t gold over 12 metres and 3.96 g/t gold over three metres.

The Magistral mine is situated in the state of Sinaloa, north-west Mexico. Between 2002 and 2005, the property produced an estimated 70,000 ounces of gold.

 

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