Oct 18 2011
Malaga Inc. today announced that further exploratory drilling and grab samples from prospective manto structures on its Pasto Bueno property in Peru, identified potentially valuable polymetallic ore deposits including high-quality tungsten associated with gold and copper.
"We have discovered mineralized zones that are very different from the Northern part of the Pasto Bueno property where we are currently extracting and milling tungsten," said Alonso Sanchez, Chief geologist for Malaga. "We have high expectations for this new unexplored area, which contains high tungsten grades as well as interesting values for gold, copper and a number of other metals."
Mr. Sanchez noted that the latest results include 35 grab samples on all four of the manto structures, and that Malaga expects the next stage of hole-drilling to be completed and assayed over the next few months. "We are pursuing our 10-hole (4,900 meters) drilling program up to the highest part of the manto structures, the Manto Santa, between now and the beginning of 2012," he said.
Malaga's expanded exploration in the Consuzo Zone started during the second quarter of 2011 with the objective of exploring the four manto structures. Going from the bottom of the mountain to the top, the exploration team drilled more than 290 m to reach Manto Gossan where economic lengths of drill core (5.60 m thick) reported 2.36 m in width of 1.19% W03 (tungsten in the form of scheelite), 0.77 g/t Au (gold) and 0.46% Cu (copper) (HDD-05-11). Given the interesting level of gold in the drill hole, the grab samples from the manto structure will be assayed for gold.
The samples also identified the following metals: gold, molybdenum, zinc, antimony, and bismuth.