Business
Virgin Metals Announces Mineral Resource at Cuatro Hermanos
TSX Symbol: VGM Shares Outstanding: 84,881,246
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\nTSX\n\n\nSymbol: VGM\n\n\nShares Outstanding: 84,881,246\n\n\nTORONTO, July 10 /CNW Telbec/ - Virgin Metals Inc. ("Virgin Metals" or\nthe "Company") announces that its consultants, Chlumsky Armbrust and Meyer,\nLLC ("CAM") have completed a NI 43-101 compliant resource estimate for the\ncontiguous areas known as the Main and Sulfate zones at the company's\n100%-owned Cuatro Hermanos porphyry copper-molybdenum project located in\nSonora, northern Mexico.\n\n\nThe Resource calculation is based on the results of 22 reverse\ncirculation holes (CHRC 01 to 16 and CHRC 21 to 26) drilled by Virgin Metals\nduring 2007 and early 2008, together with 6 historic holes drilled by various\nprevious operators that explored the property, including Occidental Minerals\nand Amoco Minerals. The historic drilling results have been validated by CAM\nusing statistical methods. The holes used in the resource calculation cover an\narea of 1,650 m in a north-south direction by 1,100 m in an east-west\ndirection. Virgin Metals RC holes were targeted to depths of 300 m, but not\nall holes reached this depth due to mechanical, water or geotechnical issues.\nA map showing the location of the drill holes, along with other information\nabout the Company and its projects is available at: www.virginmetals.com.\n\n\nThe area is underlain by a quartz diorite porphyry and diorite porphyry\nexhibiting moderate to strong phyllic alteration with local intervals of\npotassic alteration at depth. Mineralization appears to be associated with\nboth disseminated and veinlet sulfides containing concentrations of copper and\nmolybdenum. Many of the drill holes end in mineralization, and some of these\nindicate that grade is increasing at depth; consequently the vertical range of\nthe mineralizing system is largely undefined. The area of porphyry style\nmineralization defined by drilling appears to be open to the east and to the\nwest in the southern part of the zone.\n\n\nThe following tabulation reports Mineral Resources at a cut off grade of\n0.25% copper equivalent, where copper equivalent is based on a 10:1 value\nratio between molybdenum and copper.\n\n\n-------------------------------------------------------------------------\n % Cu Con- Con-\n Equi- Ag tained tained\n Tonnes % Cu % Mo va- (g/t) Cu (lbs) Mo (lbs)\n lent\n-----------...