The gold price
Valdecanas operators strike gold - 11 July 2007
MAG and Industrias Penoles have struck gold at their Valdecanas project in Mexico.
Hole GD returned a core length of 21.1 metres grading 1.175 grams per tonne of silver and 3.66 grams per tonne of gold.
A separate gold-rich zone was identified in Hole GD, which returned 2.45 metres with a grade of 21.0 grams per tonne of gold.
However, the companies noted that "Hole ID did not return any significant values". Investigations have found that Hole ID does not intersect the Valdecanas Vein projection because of faulting.
A 28,000-metre definition drill programme is underway on the Valdecanas gold vein project, which is situated on the Juanicipio joint venture.
The property is 56 per cent owned by Penoles and 44 per cent owned by MAG Silver.
Hole GD returned a core length of 21.1 metres grading 1.175 grams per tonne of silver and 3.66 grams per tonne of gold.
A separate gold-rich zone was identified in Hole GD, which returned 2.45 metres with a grade of 21.0 grams per tonne of gold.
However, the companies noted that "Hole ID did not return any significant values". Investigations have found that Hole ID does not intersect the Valdecanas Vein projection because of faulting.
A 28,000-metre definition drill programme is underway on the Valdecanas gold vein project, which is situated on the Juanicipio joint venture.
The property is 56 per cent owned by Penoles and 44 per cent owned by MAG Silver.
Goldbug, 11 Jul '07
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