Business
Farallon announces new gold zones at G-9
Farallon announces new gold zones at G-9
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Apr. 21, 2010 (Canada NewsWire Group) -- /CNW/ -- Dick Whittington, President and CEO of Farallon Mining Ltd. (\"Farallon\" or the \"Company\") (TSX:FAN) is pleased to announce the presence of high grade gold zones outside the current mineral resource (at a 5% zinc cut-off ) at the G-9 Mine at the Company's Campo Morado property in Guerrero State, Mexico.High grade precious metal intercepts at G-9 have been reported in various news releases over the years, most recently in the Company's December 16, 2009 news release in which an intersection of 13 metres of 20 grams of gold was announced. Since that time, the Company has been actively investigating the geological continuity and stratigraphic location of these intercepts, particularly since underground drilling became a component of the ongoing exploration program at G-9. It is now apparent that there is a definite geological and stratigraphical correlation to the high grade gold and silver intercepts. The current results are based on drilling up to December 31, 2009, carried out in conjunction with the Company's recently released mineral resource and reserve estimate (news release dated March 29, 2010).Three gold zones have been identified so far: one in the Southeast zone (Mining Area 8) and two in the North zone of G-9 (Mining Areas 4 and 9). The locations of the three gold zones are highlighted in the attached G-9 isopach map (http://files.newswire.ca/844/FAN_Apr2010.pdf) in a similar format as maps used previously to highlight the various zinc zones of G-9. A preliminary estimate of the inferred high grade gold and silver resources at various gold cut-off grades is given below:TABLE OF GOLD RESOURCES-------------------------------------------------------------------------Cutoff grade Tonnage Gold Silver Zinc Copper Leadgpt gold (mt) (gpt) (gpt) (%) (%) (%)-------------------------------------------------------------------------3 564,654 5.71 275.93 3.06 0.74 1.45-------------------------------------------------------------------------5 225,038 8.63 406.65 3.32 0.72 1.82-------------------------------------------------------------------------7 119,837 11.05 498.76 3.52 0.70 2.00-------------------------------------------------------------------------Dick Whittington said: \"This is an exciting new development for the Company as it shows that the G-9 mine an...