ECU will make good use of previous drilling to target the deep massive sulphides
posted on
Feb 01, 2010 02:28PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Massive Sulphide Grades Confirmed.
o 3.66 g/t Au, 295 g/t Ag, 7.87% Pb and 12.07% Zn over core length of
12.04 metres (40 feet).
o 7.90 g/t Au, 550 g/t Ag, 11.25% Pb and 27.68% Zn over core length of
1.75 metres (6 feet).
Dollar value based on todays metals prices of $1103 gold, $16.61 silver, .92 cents lead, .97 cents zinc
Vein #1 of hole #21 above has a gross ore value of $705.08
Vein #2 of hole #21 above has a gross ore value of $1394.00
Follow-up holes #22, #23, with hole #24 abandoned due to drill flattening, see below:
ECU Silver Mining has released results from follow-up drilling of the massive sulphide discovery hole SJ18-21 (the M-S discovery hole) reported in a recent news in Stockwatch dated July 19, 2008. The M-S Discovery Hole had intersected two massive sulphide veins (the "M-S Veins") at depth below the Santa Juana vein system within the Velardena Property.
Two follow-up drill holes, SJ18-22 and SJ18-23 cut i) 5.9 grams per tonne (g/t) gold (Au) and 603 g/t silver (Ag) over a core length of 0.46 metres (1.5 feet) and ii) 6.61 g/t Au over a core length of 3.5 metres (11.5 feet), respectively. These follow-up holes were drilled laterally and above the M-S Discovery Hole, between it and the previous drilling, for two key reasons; i) to help confirm the continuity of the current N.I. 43-101 mineral resource, and ii) to gain additional information to accurately guide future deep drilling to define the very important massive sulphides below.
The recent drilling did not intend to hit massive sulphides but to hit gold-rich calcite veins along the same geological contact as the lower lying massive sulphide veins. The location and assay results of these new drill holes, not only supports the continuity of the Company's mineral resource but also provides important information and ongoing evidence of a nearby large massive sulphide system at depth. The results from the calcite-veins provides information that will allow calculating "vectors" that will point towards the source of the mineralization and, consequently, towards the massive sulphides. Short of intercepting massive sulphides, these are the best results we could hope for.
The M-S Discovery Hole intercepted the M-S Veins at a depth of approximately 900 metres (3,000 feet) below level 18 or alternatively 1,400 metres (4,600 feet) below surface. By comparison many underground mines have depth extents exceeding 3,000 metres (10,000 feet). The two follow-up holes, SJ18-22 and SJ18-23 were drilled 380 metres (1,150 feet) and 450 metres (1,475 feet) respectively above the M-S Discovery Hole and 180 metres (590 feet) east and 120 metres (395 feet) west, respectively.
Sections showing the location of the drill holes are located at the Company's website.
Gold at Depth is Strong Indicator of more Massive Sulphides
The M-S Discovery Hole was designed to intersect a very continuous vein/mineralized body, the A4 vein, normally located at or near the contact between an intrusive and a green skarn unit (the "Intrusive Contact"). This vein, the A4, and the corresponding contact are prevalent and very prominent within the Santa Juana vein system. The M-S Discovery Hole was extremely successful as it is now recognised that one of the M-S Veins is the depth extension of the A4 vein (the "A4 M-S Vein") with widths and grades that are much higher than the average values for the current, above lying, mineral resource. The M-S Veins widths and grades are very characteristic of massive sulphides replacement bodies that are expected to lie below the Santa Juana veins system. The interpreted A4 M-S Vein was cut near a depth of 900 metres (2,950 feet) below level 18 and yielded 3.66 g/t Au, 295 g/t Ag, 7.87% lead (Pb) and 12.07% zinc (Zn) over a core length of 12.04 metres (40 feet). The second M-S Vein yielded 7.90 g/t Au, 550 g/t Ag, 11.25% Pb and 27.68% Zn over a core length of 1.75 metres (6 feet).
The first follow-up hole, SJ18-22, intercepted the Intrusive Contact, went through the intrusive before entering a marble unit and then hit the contact between the marble and a new green skarn (the "Skarn Contact"). This hole cut the A4 vein approximately 380 metres (1,250 feet) above the M-S Veins and yielded 5.9 g/t Au, 603 g/t Ag, 0.07% Pb and 0.01% Zn over a core length of 0.46 metre (1.5 feet). Several additional veins were cut with good assay grades over small widths but significant assays were obtained at the Skarn Contact in a new vein that yielded 5.86 g/t Au, 54 g/t Ag, 0.04% Pb, 0.72% Zn and 2.26% copper (Cu) over a 3 metre (10 feet) core length. This last vein is of special interest because no mineralization has been found above, along the same Skarn Contact. This suggests that additional massive sulphide mineralization at depth may be associated with the source of this new vein.
The second follow-up hole, SJ18-23, hit the A4 vein approximately 450 metres (1,475 feet) above the M-S Veins and returned a wider zone that is abundant in calcite veins over 17.9 metres (60 feet) of core length including 6.61 g/t Au over a core length of 3.5 metres (11 feet) and 10.5 g/t Au over a core length of 1.65 metres (5.4 feet).. A wide package of calcite veins with good gold contents but depleted in other metals such as silver, lead and zinc are an excellent indicator of nearby massive sulphides. Due to the depth capacity of this drill, this hole stopped short of the Skarn Contact.