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Ranchero Gold Provides Update on Santa Daniela Drill Program
Current drill program focused on expansion of known gold mineralization at Maíz Azul and initial testing of two highly prospective targets. Diamond core drillin
About this update from Ranchero Gold Corp
[{"type":"text","content":" Current drill program focused on expansion of known gold mineralization at Maíz Azul and initial testing of two highly prospective targets. Diamond core drilling commenced on October 27, 2021. To date 360 meters have been completed in two drill holes. A 13 hole, 3000-meter program Phase 1 drill program planned. VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Ranchero Gold Corp. (formerly, Melior Resources Inc.) (TSXV:RNCH) (the “Company”) is pleased to provide an update of its current drill program at its 100%-owned Santa Daniela project located in Sonora, Mexico. The Santa Daniela project consists of a large 22,000-hectare concession that located in the heart of the Sierra Madre Occidental (SMO) gold belt situated in close proximity to a number of currently operating gold mines. Diamond drilling is underway. The drill rig arrived on site on October 25 and commenced drilling on October 27. To date, 360 meters of diamond core drilling has been completed in two drill holes. The Sierra Madre Occidental Gold Belt Over the last 20 years, a significant new gold belt has emerged in the SMO. While there has historically been small-scale gold production, it is only in the past 15 years that large-scale mining has begun. The region is dominated by Alamos Gold’s Mulatos mining complex and Agnico Eagle’s La India and Pinos Altos mining complexes. These three mines produced approximately 390,000 ounces gold and 2.3 million ounces of silver in 2020. Combined proven and probable gold reserves are 2.5 million ounces. (Source: Alamos Gold and Agnico Eagle Websites) The Santa Daniela concessions are directly adjacent to the Mulatos mine complex (Figure 1). The SMO is a regionally extensive Tertiary volcanic field, comprised of two distinct volcanic sequences, an older andesitic and dacitic series, and a younger, pyroclastic dominated rhyolitic series. The Upper Series overlies the Lower Series with erosional disconformity and comprises a sequence dominated by stratified volcanic ash beds. Most significant metal occurrences, including Ranchero’s prospects in the SMO, are hosted by rocks of the Lower Series. The Maíz Azul Prospect The most advanced project in the Santa Daniela concessions is the Maíz Azul prospect. It lies approximately 3.5 km southeast of Alamos Gold’s San Carlos and El Victor deposits - part of the ...