Business
Solid announces drilling commencement and exploration priorities for 2006
Solid announces drilling commencement and exploration priorities for 2006.
About this update from Regenx Tech Corp
[{"type":"text","content":"\n\n\n\n\nEDMONTON, Jan. 5 /CNW/ - Solid Resources (\"SRW\" - TSXV) is pleased to\nannounce that it has commenced a 3,000 metre exploratory core diamond drilling\nprogram on its Sacrificio property in Mexico. The program is aimed at\nidentifying subsurface Copper and Silver grades and the location of a\npotential ore body. A surface sampling program in 2005 yielded encouraging\nresults as reported in the April 18, 2005 news release. Hole No. 1 is\ncurrently in progress and is being drilled at 45 degrees. The projected target\nfor the hole is 300 - 500 metres and is currently at 52 metres. The budgeted\ncost of the program, including the drilling of 7 holes, is $550,000, and once\ncompleted, a thorough analysis will be undertaken to determine a dependent\nfollow up drill program in the 2nd Q of 2006.\nSolid is also in the process of obtaining a drilling permit for the Lara\ncopper project in Peru and expects to spend a minimum of $670,000 on the\nproperty during 2006. This program is planned to commence in March or April\n2006 and may include both infill and scout drilling totaling 10 holes on the\nproperty. Exploration will be targeted at increasing the previously defined\nmineral resource as outlined in the November 3, 2005 news release.\nThe Company's primary exploration focus for 2006 will be on the Mexico\nand Peru projects while continuing to prove up its projects in Canada's\nNorthwest Territories and Spain. Sampling and drilling programs in these\nregions, contemplated to commence in the 2nd Q of 2006, are in the planning\nstages and will be aimed at determining metal grades in additional mineralized\nzones. Specifically, the NWT's Bear property will involve exploratory drilling\nto identify grades in a Volcanic Hosted Massive Sulphide zone. Additionally,\nthere will be a continuation of the sampling for indicator minerals on Solid's\nproperty around the potential Kimberlite pipes. Approximately $350,000 will be\nbudgeted for this 2nd Q program on the Bear property.\nIn addition, Solid plans to spend approximately $300,000 during the 2nd Q\nand 3rd Q of 2006 on mapping and surface sampling of the Varallo project in\nthe Piemonte region of Northwestern Italy. The Varallo property contains\nNickel, Copper, Gold, Cobalt, and Platinum Group Metals. The metal sulphides\nrelate to three ultramafic rock types.\n\n---------------...