Explorator Resources Inc. (TSX VENTURE:EXO) through its subsidiary Explorator SCM reports results of drilling completed at El Espino, Chile during the third quarter, 2010.
A total of 8,033 meters was completed in 34 holes during the third quarter, with 18 holes in the core Rachel Zone, 11 in the Portuguesas-Pirata Zone, 1 at Ravanales, 2 at Pichanilla and 2 in the Chon Chon Zone. The diamond drill program for 2010 is currently budgeted to include a total of 23,189 meters in 102 holes.
Drilling continues to result in better definition of contiguous zones of copper-gold mineralization within the stacked mantos of the Rachel Zone and has identified additional mineralization in adjacent zones. Key intervals from recent drilling include:
- PXE-436 (Portugesas): 92 meters at 0.70% Cu and 0.28 g/t Au (sulphides);
- PXE-437 (Rachel): 35 meters at 2.63% Cu and 0.24 g/t Au (oxides) and 60 meters at 0.86% Cu and 0.33 g/t Au (sulphides);
- PXE-443 (Rachel): 56 meters at 0.71% Cu and 0.26 g/t Au (sulphides);
- PXE-463 (Rachel): 34 meters at 1.58% Cu and 0.20 g/t Au (sulphides) and 26 meters at 2.29% Cu and 0.07 g/t Au (sulphides); and
- PXE-454 (Rachel): 28 meters at 0.66% Cu and 0.84 g/t Au (oxides)
RACHEL
Holes PXE 440, PXE 442 and PXE 461 demonstrate good correlation of mineralized mantos with the adjacent holes drilled previously in the NE part of the Rachel Zone. Holes PXE 435 and PXE 460 confirm the continuation of stacked mantos (4 mantos in hole PXE 435 and 5 mantos in hole PXE 460) in the SE part of the Rachel Zone.
New holes on the western edge of the Rachel Zone are located close to a fault which marks the boundary of the Rachel Zone and this fault may also be a mineralizing feeder structure. Hole PXE 437 intersected 35m at 2.68%Cu, 0.24g/tAu in oxides and 60m at 0.86%Cu and 0.33g/tAu in sulphides), and hole PXE 438 intersected 63.5m at 0.67%Cu and 0.10g/tAu.
Holes PXE 439, PXE 441 and PXE 446 are poorly mineralized and mark the western limit of the Rachel Zone, while hole PXE 443 (4m at 0.63%Cu, 1.70g/tAu and 36m at 1.02%Cu, 0.38g/tAu) is within the western edge of this zone. As indicated, hole PXE 443 has a high gold content and is adjacent to the Chon Chon- La Viuda-Portuguesas gold rich zones.
Hole PXE 445 (11m at 0.57%Cu, 0.10g/tAu) and particularly hole PXE 463 (34m at 1.58%Cu, 0.20g/tAu and 26m at 2.29%Cu, 0.07g/tAu) demonstrate a southern extension of the Rachel Zone mantos and likely continuation of mineralization towards the higher grade Pichanilla Zone.
PICHANILLA
Hole PXE 454 (26m at 0.66%Cu, 0.84g/tAu) demonstrates an eastern extension of the Pichanilla mineralized zone and has a significant gold and copper grades. Hole PXE 456 (12m at 0.57%Cu, 0.03g/tAu) extends the Pichanilla zone to the south.
RAVANALES
Hole PXE 465 intersected shallow oxide and mixed copper mineralization, which is typical of the near surface and outcropping manto mineralization at Ravanales.
CHON CHON
Hole PXE 464 (10m at 1.16%Cu, 0.73g/tAu) intersected significant gold mineralisation in the copper oxide zone, which is typical of the gold bearing Chon Chon Zone.
PORTUGUESAS
Hole PXE 436 (19m at 0.67%Cu, 0.50g/tAu oxides and 92m at 0.70%Cu, 0.28g/tAu sulphides) extends the sub-vertical zone of shear hosted mineralization in this zone to the southwest, while holes PXE 433 and PXE 462 confirm continuity of the Portuguesas Zone to the northeast.
PIRATA
Holes drilled in the Pirata Zone have variable results. Hole PXE 453 (2.7m at 0.99%Cu, 4.29g/tAu intersected a zone of copper-gold mineralization probably related to the Pirata fault. This extends the known zone of mineralization at Pirata to the southwest.
2010 PLANNED DRILLING
Drilling is continuing in the Rachel, Pichanilla and Portuguesas-Pirata Zones to add confidence to existing resources and to test for extensions.
UPDATED RESOURCE CALCULATION AND UPDATED SCOPING STUDY
An internal updated resource calculation of the El Espino deposit is now underway at Explorator Chile and will be incorporated into the updated scoping study scheduled for completion in Q4, 2010, which will be followed thereafter by an NI 43-101 compliant Technical Report prepared by Explorator Resources Inc.
Source: Explorator Resources Inc.