Mexican Gold Corp – More Assays, More Gold – Resource Extension
Mexican Gold Corp. (CVE:MEX, FRA:4QW1) continues its hot-streak – this time drilling 3.87 g/t AuEq over 6.0 meters.
Step-out hole LM-18-JB-25 was drilled 33 meters west of the boundary of the El Dorado/Juan Bran (EDJB) zone outlined by the maiden resource estimate.
The El Dorado/Juan Bran zone outcrops on surface and occurs as a flat lying to sub-horizontal body measuring 650 metres (north-south) by 250 metres (east-west).
The zone varies in thickness from 6.0 to 28.0 meters.
The outstep not only will increase the current resource but increase the grade as well.
(Step-out holes LM-18-JB-25 & LM-18 JB-24)
More amazingly, step-out hole LM-18 JB-24 was drilled 206 meters northwest of the El Dorado/Juan Bran zone and hit mineralization. To put that into perspective, that is two whole football fields away from the defined resource.
These step-out also moves ELJB closer to Cinco Senores, which we believe is connected.
LM- 18-SC-6A & 17A were drilled to test the continuation of the Santa Cruz mineralization to depth. Both holes intersected an additional 8 meters of mineralization below the limits of previous drilling – while drilling has not connected the EDJB with Santa Cruz, we expect it eventually will.
Which all equates to more gold.
Mexican Gold already has a million-ounce resource – and every drill hole drilled is growing and high-grading it.
Yet the company’s C$16M market cap is smaller than many ExplorCos with greenfields and barren holes.
When will the market catch on?
Las Minas is shaping up to be a World-Class project, and Mexican Gold will continue drilling.
We will continue to support and wait.
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