Business
Virgin Metals Inc. - Gold Discovery at Los Verdes
TSX Symbol: VGM TORONTO, July 20 /CNW Telbec/ - Virgin Metals Inc. ("Virgin Metals" or the "Compa...
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\nTSX\nSymbol: VGM\n\n\nTORONTO, July 20 /CNW Telbec/ - Virgin Metals Inc. ("Virgin Metals" or\nthe "Company") is pleased to present an update for its Los Verdes project\nlocated in Sonora, northern Mexico. Although the focus of work during the past\ntwo years has been directed largely at development of the Los Verdes\nmolybdenum-copper ore body, recent reconnaissance rock chip sampling and\ngeologic mapping over outlying portions of the 66.90 square kilometer property\nhave identified areas containing significant gold mineralization, particularly\non the western portion of its land over the Hilda Fraction 2 license. Here\nCretaceous andesitic volcanic rocks are intruded by Tertiary granodiorite,\ndiorite, and aplite. The plutonic rocks are locally cut by late-stage\nquartz-tourmaline plugs and breccias. Tourmaline alteration is also present to\nvarying degrees in the overlying volcanic stratigraphy. The rock units lie\nwithin an extensive zone of and quartz-sericite-pyrite-illite alteration and\nhematite staining/oxidation which encompasses large portions of the Los Verdes\nproperty. Recent exploration over these alteration zones and surficial color\nanomalies has identified significant gold mineralization at Cerro La Cobriza\nand Cerro La Turena on the Company's Hilda Fraction 2 license (Fig. 1).\n\n\nAt Cerro La Cobriza anomalous gold mineralization is centered over a hill\nof weathered quartz-sericite-illite-pyrite altered granodiorite which is cut\nby a stockwork of quartz and quartz-tourmaline veinlets. Veinlets of varying\norientation and size are noted over the prospect, yet overall the zone of\nveining and stockwork development strikes northwest, and has been traced\nintermittently in outcrop for nearly 300 meters. Nine rock chip samples\ncollected in June over an approximately 300 m x 100 m area on the prospect\nreturned gold values ranging from 0.02 to 3.16 g/t, with an average grade of\n0.529 g/t gold. Locally the mineralization also contains anomalously high\nconcentrations of Pb, Zn, Ag, As, Sb, and Hg. Notably Mo and Cu are values are\nlow in the mineralizing system at Cerro La Cobriza, with 10 and 60 ppm the\nrespective high values for the sample set.\n\n\nApproximately two kilometers south-southwest of Cerro La Cobriza (CLC),\non the opposite side of a major west-draining canyon, but al...