Golden Reign Resources has moved a third diamond drill rig to the San Albino-Murra project in Nicaragua.
The company has arranged a drilling rig for the Las Conchitas and the San Pablo regions, where the current trenching program has defined several drilling targets that contains four new, high potential mineralized zones. It has scheduled to examine these regions through the preliminary six drill holes, around 3,000 m of drilling.
Golden Reign has delineated numerous structurally controlled mineralized zones, which has parallel and quartz vein system, over 2 km distance at surface and these zones stay open in two directions.
Recently, the company has conducted the trenching program at Las Conchitas and has cut 16.95 g/t gold, 24.9 g/t silver over 2.0 m and 14.78 g/t gold, 21.1 g/t silver over 5.0 m in the trench TR-22, 8.46 g/t gold, 21.2 g/t silver over 4.0 m, 6.11 g/t gold, 9.8 g/t silver over 7.0 m and 5.89 g/t gold, 11.8 g/t silver over 14.0 m in the trench TR-21.
Golden Reign has planned the trench TR-22 to expand the mineralized zones’ strike length, which is shown by the trench TR-21. Both the trenches are present on strike with the significant Las Dolores mine and seem to be the extension of a high-grade vein system. The company had previously reported 155 m of strike length, 62 m of widened depth and 1.7 m of vein thickness at the Las Dolores mine. Additionally, it intersected 47 g/t gold over 1.6 m and 35 g/t gold over 1.7 m.
The company is continuing the drill program at San Albino or Arras. Two diamond drill rigs are advancing the definition drilling during 2011, planned to examine the expansion and continuity of the mineralized formation to depth and in both directions laterally. The company will contain adequate information to estimate a NI 43-101 compliant resource, after finishing the 16,000 m of planned drilling. It has cored 9,784 m at San Albino or Arras.
Source: http://www.goldenreignresources.com/