Business
Virgin Metals Completes Resource Drilling; Resource Calculation in Hand
Virgin Metals Completes Resource Drilling; Resource Calculation in Hand.
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\n\nTSX Venture Exchange\nSymbol: VGM\nShares Outstanding: 58,346,540\n\nTORONTO, Nov. 27 /CNW Telbec/ - Virgin Metals Inc. (the \"Company\" or\n\"Virgin Metals\") (TSX-V: VGM) has completed the drilling that will provide the\nbasis for a resource calculation at its 100% owned Los Verdes copper,\nmolybdenum, tungsten project in the State of Sonora, northern Mexico. Some\nadditional step out drilling has been performed and condemnation drilling is\ncurrently being carried out.\nAs previously reported, the mineralization occurs in a prominent ridge\nand consists of typical porphyry style mineralization which is modified by\nleaching at surface and accompanied by re-concentration in a zone of secondary\nenrichment. The dominant host rock is a quartz - tourmaline breccia that lies\nabove and to the west of the Buena Vista fault. The base of the mineralization\nlies at the contact between the host breccia and a fine to medium grained\ngranodiorite. In the north, the mineralization is bounded by topography.\nThe results of holes 23 to 41 are now available. Of these, holes 33 to\n36, 40 and 41 were drilled as step out or in fill holes in or proximal to the\npreviously established resource, while holes 23 to 32 and 37 to 39 were\ndrilled to investigate possible extensions to the recently discovered\nmineralization in the area of the old open pit. Hole 29 was not drilled.\nHoles 33 and 34 were drilled to test potential extension of the\nmineralization to the north of hole 12; slightly anomalous but insignificant\ncopper and molybdenum values were found. Holes 35 and 36 were drilled behind\nthe face of the existing open pit to test available grades; high grade\nmineralization was intersected in both holes (results given below) Hole 40 was\ndrilled to test the northern extension of the mineralization intersected in\nhole 13. Due to local topography, it was drilled from the location of hole 13\nat an angle of 70 degrees to the north and intersected significant molybdenum\nand low copper values. Hole 41 was drilled as an infill between holes 5 and 6\nand returned the high grades typical of this area.\nOf the holes drilled to the east of known mineralization, none\nintersected significant mineralization, though some did intersect quartz\ntourmaline breccia with typically weakly elevated copper levels.\nSignificant results are reported b...