Ali Zamani: Monster Hole for Mexican Gold (TSXV:MEX) at Las Minas
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Ali discusses the latest drilling results at Mexican Gold’s Las Minas project. Historically the site had some fairly high-grade ore, and they suspected that not all of it had been mined. They felt that high-grade mineralization was likely still in the area. Modern tools have now confirmed that mineralization is still present.
The main highlight of hole LM40 is 9 grams over 38 meters which is a significant intercept. This dike structure where they drilled crosses their Maiden resource. The drill results exceed their model by 3x the intercept and 8x the grade. It is in an area that is least explored. This could prove to be a stepping stone to further exploration. This is a hole that further increases their resource base.
He says they always knew that this was a big area. His personal opinion is the previous drilling results while quite good may be of lower-grade for this site and there are larger more impressive structures still to be found. They now have a better understanding and finds this site to be very exciting.
This hole has changed their drilling plans as Mexican Gold Corp. has been doing a methodical approach to resource development. They have begun drilling again around hole 40 as they want to determine the extent and ideally the amount of mineralization.
He discusses the geology of the site and how they have found resources in almost every hole drilled. They feel there are several areas where they can continue to see high-grade ore. Mr. Zamani points out that they have some of the lowest drilling costs because of the shallow depths.