Business
NWT Uranium advances Picachos property in Mexico
NWT Uranium advances Picachos property in Mexico.
About this update from Captor Capital Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Oct. 31 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is\npleased to provide an update on activities underway at its 19,000-acre\n(7,700-hectare) Picachos project in Durango, Mexico. In recent months, NWT has\nconducted an IP survey and rock sampling over Los Cochis, one of four\ncontiguous precious metal districts on the Picachos property. Work is being\nconducted to ensure that NWT and its shareholders get full value for this\nasset. Assay results from rock chip channel and rock grab samples reveal\nindividual values of up to 145 ounces per ton (4,975 grams per tonne) silver,\n0.25 oz/t (8.61 g/t) gold, 53% zinc as well as 50% lead. Two targets at Los\nCochis were defined as part of the exploration program: El Fresno and La\nTijera. Drilling is scheduled as the next step of the ongoing work program.\n\n\n"Of the four districts, NWT chose to focus on Los Cochis because of its\npotential to host large-tonnage, near-surface silver-lead-zinc mineralization\nthat is amenable to open-pit mining," said Marek J. Kreczmer, President and\nCEO of NWT Uranium. "We are encouraged by the high levels of silver-lead-zinc\nmineralization returned from our rock sampling program and by the fact that\nour results correspond to other well-known Mexican massive sulphide-base metal\ndeposits."\n\n\nEl Fresno is characterized by high silver geochemistry in a 2,625-foot by\n1,640-foot (800-meter by 500-meter) area that trends east-southeast. The\naverage assay value of 164 rock chip-channel and grab samples is 9.5 oz/t\n(328 g/t) silver, 1.62% zinc, 1.01% lead and 0.05% copper. Most samples from\nEl Fresno were cut from disseminated and stockwork mineralization exposed in\ncreek draws and historic workings. Results include 157 feet (48 meters) of 1.6\n oz/t (56 g/t) silver, 0.4% lead and 1.2% zinc (average result of\n34 continuous chip-channel samples).\n\n\nLa Tijera is a complex northwest-trending fault zone northeast of\nEl Fresno that controls the emplacement of diorite porphyry intrusions,\nquartz-feldspar porphyritic monzonite intrusions and gold-rich mineralization.\nThe fault zone is a crustal-scale lineament that strikes into the El Toro\ndistrict, five miles (eight kilometers) to the northwest on the Picachos\nproperty. The average result of 47 chip channel and grab rock samples from\nmineralized p...