NWM identifies exploration target with high gold-copper surface geochemistry
posted on
Apr 07, 2011 09:21AM
NWM Mining Corporation is a Canadian mineral exploration company focused on the development of the Lluvia de Oro / La Jojoba gold mine located in Sonora in North West Mexico
NWM identifies another exploration target with high gold-copper surface geochemistry
TORONTO, Apr 7, 2011 (Canada NewsWire via COMTEX News Network) --
TSX Venture Exchange Symbol: NWM Shares Outstanding: 402,069,593
NWM Mining Corporation (the "Company" TSX-V: NWM) today announced that it has defined another high priority 2011 exploration objective for the Lluvia-Jojoba project.
In recent months NWM has been conducting soil sampling and surface reconnaissance over an area south of the Creston Pit at the Lluvia de Oro mine. Creston Pit is the site of current gold production activity at the Lluvia-Jojoba project. Preliminary exploration results from the area south of Creston Pit have identified a broad zone of combined gold-copper soil geochemical anomalies. The anomalous gold-copper values detected exceed values obtained elsewhere on the combined Lluvia-Jojoba project area to date.
Elevated gold and copper values in soil are generally considered to be a good proxy for identifying areas where ore-grade gold and copper deposits may be located sub-surface. Recent soil geochemistry work, coupled with reconnaissance, surface mapping and limited rock chip sampling from the Gold Ridge and El Cobre West targets, has identified an area 800 meters long (NE to SE trend) and 900 meters wide (E to W) with gold values up to 2,400 ppb (parts per billion) and copper values up to 1,015 ppm (parts per million). These levels of gold and copper, and the results of numerous other samples analyzed in the area of interest, exceed the otherwise very high soil geochemical results that define other exploration initiatives in the Lluvia-Jojoba project area.
These new data are significant in that they identify a large area located very close to existing NI 43-101 compliant Mineral Reserves that are being actively mined by the Company. The objective of further exploration in the recently defined area is to identify new mineral resources for the project.
The Company will commence additional surface exploration work immediately and will follow-up with diamond core drilling and RC drilling in May-June. Interim results of these on-going activities will be reported in future press releases as they become available.
The Company's 100% owned Lluvia-Jojoba gold project is located approximately 100 kilometers south of Nogales Arizona, near the town of Magdalena de Kino, Sonora, Mexico. The project is comprised of 5,074 hectares of mineral concessions that include the Lluvia de Oro gold mine, the Northeast Zone of La Jojoba and several additional exploration target areas of merit.
To view the map, please follow this link: http://files.newswire.ca/843/NWMmap.pdf
This press release has been prepared by Rodney A. Blakestad, C.P.G., Qualified Person.