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Virgin Metals continues to encounter high grade molybdenum mineralization at Los Verdes: results include 0.33% molybdenum over 28 meters
Virgin Metals continues to encounter high grade molybdenum mineralization at Los Verdes: results include 0.33% molybdenum over 28 meters.
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\n\nTSX Venture Exchange Symbol: VGM\nShares Outstanding: 56,006,090\n\nMONTREAL, Sept. 19 /CNW Telbec/ - Virgin Metals Inc. (the \"Company\" or\n\"Virgin Metals\") (TSX - V: VGM) has received assay results for drill holes\nLVRC0406 through LVRC1006 from its drill program currently underway at its Los\nVerdes copper, molybdenum, tungsten project in the State of Sonora, northern\nMexico. The drill program, designed to replicate the drill pattern completed\nby Cominco Ltd. and Industriales Penoles some 35 years ago, is advancing on\nschedule with 22 holes totaling 2,631.94 metres in length completed to date.\nThe assay results for molybdenum, copper, tungsten and silver for drill\nholes LVRC04 through LVRC1006 are as follows:\n\nTable 1. Summary of Drill results\n\n>\n\nNote: No high values have been cut.\n\nHole no LVRC0406 appears to have been drilled at the southern edge of\nmineralization. LVR0506, collared at the same location, was drilled north at\nan inclination of - 45 degrees and returned some of the highest grades seen to\ndate on the project. Hole LVRC0806 was drilled immediately behind the face of\nthe existing open pit and may also be too far south to intersect\nmineralization.\nAs previously reported, the mineralization occurs in a prominent ridge\nand consists of typical porphyry style mineralization which is modified by\nleaching at the surface and accompanied by re-concentration in a zone of\nsecondary enrichment. Drill hole intersections further confirm the presence of\na leached cap within an overlying hydrothermal (quartz- tourmaline) breccia\nand a secondary enrichment zone identified in holes LVRC0506 - 0706 by\ndiscreet intersections of elevated copper and more local, molybdenite\nmineralization.\nThe CEO of Virgin Metals, Chris Davie, commented that \"We continue to see\ncontinuity of high grade values of both molybdenum and copper in this compact\nand readily accessible zone of mineralization. We anticipate completing\ndrilling in October and to have a NI 43-101 compliant resource calculation\ncompleted by about the end of November. We are meanwhile continuing with\npermitting activities for a planned small-scale plant that we anticipate being\nin production during 2007. The plans for such a plant have not been the\nsubject of a feasibility study and should not be relied upon. It is\nanticipated that...