Golden Reign Resources has signed an agreement with Canchi Perforaciones de Nicaragua to contract a second drill rig for the San Albino-Murra gold property in Nicaragua.
A completely hydraulic second drill rig, which is a self-propelled track-mounted diamond drill mechanism, will be mobilized to the San Pablo and Las Conchitas regions in San Albino, where several drill targets have been defined through the current key trenching program. Many mineralized zones having analogous, steeply plummeting quartz vein system ranging from 1 to 8 metres thick have been dug out and tested. Now, the layer formations are outlined for above 800 metres in strike length and are open in all directions.
The company is continuing drilling program at San Albino mine region, which is located in the north of San Pablo and Las Conchitas. Golden Reign is examining the stability and expansion of mineralized formations for summarizing the 2010 first drill program. It has planned to laterally develop the San Albino mineralized zone in both the directions.
Simultaneously, 400 level portals have been opened again to the past San Albino mine. The mine has encountered 30.7 g/t gold over 70 metres. Golden Reign has planned to re-open and re-examine the 400 level to verify these grades.
Source: http://www.goldenreignresources.com/