IPT came out with more results today from the ongoing drill program:

http://www.kitco.com/pr/2074/article_06022011155132.pdf

The typical gold values from the current mines are 1:100 ratio to the silver content. This latest batch is more typical of a gold system, 1:20 ratio to silver. The mineralised widths are also encouraging, with several meters of economic grade reported in most holes.

This has been interpreted as a major regional fault structure, and that is good news for a number of reasons. First off, since they have hit some very good grades right off the bat, it looks very good for the potential as they continue to step out laterally. While silver is usually concentrated in the upper elevations of a vein system, the gold bearing zones could go on to much greater depths. A major regional fault system is also likely to include splay veins and shear zones of breccia and crushed rock, which suggests there will be some bonanza grade ore shoots encountered at some of the zones as they continue stepping out the drilling. In fact for many productive structural trends there is almost no gold in the main vein itself and the big deposits are located in the parrallel veins and shear zones related to the main vein.

Since IPT hit some pretty strong grades on the very first batch of holes, this is extremely encouraging for the next batch of assays that are pending.

cheers!

mike