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Drilling Under Way at Los Verdes Copper/Molybdenum Project
Drilling Under Way at Los Verdes Copper/Molybdenum Project.
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\n\nTSX Venture Exchange\nSymbol: VGM\nShares Outstanding: 55,231,090\n\nOTTAWA, July 26 /CNW Telbec/ - Virgin Metals Inc. (\"Virgin Metals\") (VGM\nTSX-V) announces that drilling is under way at its 100% controlled Los Verdes\nproject in Sonora State, northern Mexico. The objective of the drill program\nis to replicate drilling carried out some thirty five years ago by a joint\nventure of Cominco Ltd and Industriales Penoles. That drilling led to the\nconclusion by Penoles that mineralization (described by Penoles as \"reserves\")\ntotalling 7.1 million tons (6.44 million tonnes) exists at a grade of 0.86%\ncopper, 0.16% molybdenum and 0.135% tungsten oxide. Such calculations do not\nconform to the current criteria of National Instrument 43-101 (\"NI 43-101\")\nand it is anticipated that by replicating the drilling under modern quality\nand security assurance criteria a resource fully compliant with NI 43-101\ncriteria can be established.\nThe mineralization occurs in a prominent ridge and consists of typical\nporphyry style mineralization which is modified by leaching at the surface and\naccompanied by re-concentration in a zone of secondary enrichment. A drill\nprogram totalling some 6,000 meters of reverse circulation drilling is\nplanned. With one or two minor exceptions, the drill program will use the same\ndrill roads and drill sites as the historical drilling and will consist of\nbetween 25 and 30 holes of between 100 and 250 m in depth. Secondary\nenrichment was reported by Penoles to be between 50 and 190 m in thickness.\nUnderlying hypogene (primary, unaltered) mineralization was barely tested.\nIn addition to drilling, an adit, some 280 meters in length, was driven\ninto the mineralization by Penoles/Cominco. This adit is currently being\nrehabilitated for the purpose of systematic sampling for grade and for\nextraction of a bulk sample which will be used for metallurgical test-work.\nPrior to the drilling that established the Penoles estimate, production\nfrom a small open pit on the property occurred during the mid 20th century.\nThe resulting open pit face allows an exposure of the mineralization and will\nbe the focus of the establishment of early production at pilot plant (200 to\n300 tonnes per day) scale; design work leading to the application for permits\nfor such an operation is also in hand.\nMr. G. L...