Timmins Gold Corp. (TSX VENTURE:TMM) announces results of a first phase reverse circulation drill program on geological, geochemical and geophysical targets at the Norma gold-silver property.
The property comprises a 15,687 Ha exploration concession, and is 100% owned by Timmins Gold. The Norma property is located approximately 20 km NW of the Company's San Francisco mine and surrounding exploration lands, and approximately 40 km SE of Capital Gold's El Chanate mine, both of which are located within the highly prospective Sonora-Mojave Megashear structural province in northern Sonora, Mexico.
Highlights of the assays received from the 2,090 meters of drilling in 16 reverse circulation drill holes completed during December, 2010 include the following:
- RCN-04 grades 14 g/t Au over a 3.05 meter interval beginning at a depth of 81.0 meters and includes a 1.5 meter interval grading 27.9 g/t Au; with a second interval grading 1.16 g/t Au and 36.4 g/t Ag over a 13.7 meter interval beginning at 123.4 meters depth, (including a 4.6 meter interval grading 3.21 g/t gold and 73 g/t Ag.
- RCN-14 grades 1.02 g/t Au over a 4.6 meter interval beginning at 21.3 meters depth.
- RCN-03 grades 0.81 g/t Au and 12.3 g/t Ag over a 13.4 meter interval and includes a 1.56 meter interval grading 5.47 g/t Au and 33.9 g/t Ag.
Numerous historical prospects have been identified within a NW-trending corridor within the property boundary. Numerous drill targets, including those drilled during this initial drill phase, have been identified on the basis of geological, geochemical, and geophysical surveys. Target criteria have been generated from the Company's geological understanding of the district. These criteria are based on experience gained from operating and exploration success at the San Francisco gold mine and surrounding areas, located approximately 20 km SW of Norma, in a very similar geological environment.
Drilling was carried out in approximately 250 meter spacings over a 2 km strike length of altered and geochemically-anomalous outcrops consisting of metasedimentary rocks intruded by dykes, sills, and quartz stockworks. Numerous historical workings have been excavated within silicified zones.
Timmins exploration staff are highly encouraged by the results of the recent drill program. The discovery of mineralization at a distance of 20 km from the San Francisco mine along a major structural trend provides evidence of the potential of the area. The tenor of the assay results from this first phase of drilling, combined with the similarities between the geological setting and style of mineralization at Norma and the Company's San Francisco mine, indicate that follow-up drilling both along strike and as infill drilling is clearly warranted.
Source: Timmins Gold Corp.