Posted in | Gold

Auracle Resources Reports Phase One Drilling Results from Mexican Hat Gold Project

Published on January 24, 2012 at 2:52 AM

By Joel Scanlon

Auracle Resources has released the assay results of five holes from the Phase One drilling program conducted on the Mexican Hat gold project. The project is situated close to Pearce, Arizona, 125 km towards the southeast of Tucson.

The Phase One drilling program is comprised of step out holes to analyze regions showing potential as outlined by structural study, geophysical surveys and sampling completed by Dr. Alan Miller, PhD, P.Geo. It also consists of infill holes in the resource area, which is 43-101 non-compliant and established by Placer Dome.

In order to get a better insight into the geological data in terms of alteration, lithology and structure for emplacement to gold mineralization, diamond drilling was used in this Phase One drilling program.

Gold mineralization was present mainly in cracked volcanic rocks with profuse limonite/hematite modification. In addition, regions of pervasive limonite/hematite modification were found in the volcanic host rocks that had minimal shearing.

In view of the fractured ground conditions, drilling conditions proved to be difficult. Main recoveries ranged from 76% -100% and core loss was mainly within modified and highly sheared rocks. For instance in the hole MH 11-001 in the 13.2 m intercept grading 2.155 g/t gold, it was found that there were two intervals of 2.07 and 1.12 m, respectively with no major recovery.

Holes MH 11-001 to 003 were situated in the Placer Dome resource region, which is a 43-101 non-compliant area, of the Mexican Hat Project. The holes MH 11-004-019 were step out holes that helped discover additional mineral potential.

Assay results for holes 006 and MH 11-005 are still pending and will be released shortly. Auracle Resources is happy with the results and is anticipating additional results from the program.

The company’s geological staff conducted a follow up study along the extension of the EM anomalies which returned modified rocks with profuse hematite modification in an area of around 2.5 km towards south of the Mexican Hat Mountain. Workers are being deployed to carry out a bedrock sampling program in the region.

The company is planning to conduct the Phase Two drilling program by utilizing Reverse Circulation drilling for diamond drilling and infill drilling for step out investigation.

Source: http://www.auracleresources.com/

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