Business
Update on Virgin Metals' Cuatro Hermanos Property
Update on Virgin Metals' Cuatro Hermanos Property.
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\nShares Outstanding: 78,401,885\n\n\nTORONTO, Aug. 8 /CNW Telbec/ - Virgin Metals Inc. (TSX: VGM) ("Virgin\nMetals" or the "Company") gives the following update on activities and\nobjectives at its 100% owned Cuatro Hermanos property in Sonora, northern\nMexico.\n\n\nReverse circulation drilling is now under way at Cuatro Hermanos and,\nalthough first results are still some weeks away, the Company would like to\nprovide for shareholders a geologic and historical context in which to view\npast and current mapping, drilling and surface sampling activities and a basis\nfor our objectives and priorities. More details may be gained from the\nTechnical Report on Cuatro Hermanos dated February 1st, 2006 by ACA Howe\nInternational Ltd. and posted on Sedar.\n\n\nHistorical Context:\n\n\nAn intermittent series of exploration campaigns over a period of nearly\nforty years, from which varying amounts of detail survive, has provided\nsufficient data to outline a porphyry system of substantial size, at least\n4.5 square kilometers in extent, and open in most directions. Topography over\nmost of this area is steep, comprising a significant ridge known as Cerro San\nFelipe, but flattens to the north. Overall drill spacing in the past has been\nof the order of 500m, but at least two campaigns have aimed at intensive\ndrilling of potential shallow mineralization with limited success.\n\n\nTwo other areas of mineralization have been noted; surficial\nconglomerates both north and south of the ridge which contain oxide copper\nminerals and a surface expression of high grade molybdenite mineralization at\nthe west end of the ridge.\n\n\nThe majority of holes drilled on the property have encountered ubiquitous\nhypogene copper and molybdenum mineralization with occasional intervals of\nhigher grades and minor supergene enrichment. The higher grade intervals have\ntypically been reported in the past but it should be noted that these are\nrarely isolated intercepts; typically, they represent highlights of longer\nintercepts. For example, hole OXY 4 has been reported in historical reports as\nhaving three short intercepts: 22 to 30 m depth at 0.512% Cu and 0.033%Mo, 58\nto 76 m depth at 0.477% Cu and 0.032% Mo and 112 to 136 m depth at 0.693% Cu\nand 0.015% Mo. In fact, this hole provided mineralized intercepts throughout\nits ...