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Mexican Gold Signs Contract For Drill Program At Las Minas Property
THUNDER BAY, Ontario, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Mexican Gold Corp. ("Mexican Gold" or the "Company") (TSX-V:MEX) (OTCMKTS:SRXLF) (FRA:4QW1) announced to
About this update from Mexican Gold Mining Corp.
[{"type":"text","content":"THUNDER BAY, Ontario, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Mexican Gold Corp. (\"Mexican Gold\" or the \"Company\") (TSX-V:MEX) (OTCMKTS:SRXLF) (FRA:4QW1) announced today the signing of a diamond drilling contract for the commencement of drilling at its Las Minas property located in Veracruz State, Mexico. The Company has contracted with K.D.L. Mexico S.A de C.V. for up to 3,000 metres of diamond drilling. The drill program will focus on expanding known mineralization at the El Dorado/Juan Bran, Cinco Senores, and Las Minillas zones and testing new targets identified by geophysical surveys. Drilling will also be scheduled for the high-grade Santa Cruz zone, contingent on the results of a planned surface work program at the site. Expansion Drilling at El Dorado/Juan Bran Zone The drill program at the El Dorado/Juan Bran zone is focused on expanding the initial Mineral Resource Estimate. The zone remains open for expansion on strike and down dip. The drilling will include step-out drilling to extend the zone to the west of the current resource outline – see Figure 1 – 2017 Phase 2 Drilling at El Dorado/Juan Bran Zone below. A recent initial Mineral Resource Estimate for the El Dorado/Juan Bran and Santa Cruz zones estimated that the two zones contain a total Inferred Resource of 719,000 Au Eq ozs contained within 10,304,000 tonnes grading 2.17 g/t Au Eq, a total Indicated Resource of 299,000 Au Eq ozs contained within 4,908,000 tonnes grading 1.89 g/t Au Eq and a total Measured Resource of 5,000 Au Eq ozs contained within 62,000 tonnes grading 2.32 g/t Au Eq for a total Measured and Indicated Resource of 304,000 Au Eq ozs contained within 4,970,000 tonnes grading 1.90 g/t Au Eq – see press release dated August 1, 2017. Figure 1: 2017 Phase 2 Drilling at El Dorado/Juan Bran Zone Expansion and Exploration Drilling at Cinco Senores Zone Extensive mineralization has been outlined by numerous historical mine workings, diamond drilling, field mapping and sampling at the Cinco Senores zone. Recent drilling at the zone intersected a high-grade 2.0 metre interval with massive chalcopyrite grading 10.8 g/t gold, 41.7 g/t silver and 2.8% copper or 15.98 g/t Au Eq in hole LM-17-CS-04 (see press release dated May 15, 2017). The strong presence of chalcopyrite-mineralized magnetite at the targeted skarn elevation in the step-out hole, when c...