Tosca Mining Corporation has announced that it has received assay results for two additional holes (TMC-17 and TMC-18) from its 4,873 metre (16,000 ft.) two phase diamond drill program carried out at the Red Hills Molybdenum-Copper project, located in Presidio County, Texas.
The balance of the assays for the remaining 13 holes will be announced when received
The results of holes TMC -17 and 18 are summarized below and their locations shown in the drill plan below.
Drill hole TMC-17 was collared at the south end of the mineralized system within the barren core at the center of the deposit. It was drilled on a bearing of 90° at - 75° inclination to test the boundaries of the barren core. As expected, the grades diminish closer to the center. However, as TMC-17 has intercepted Mo values throughout its length, this indicates that the size of the barren core is smaller than previously thought, thereby increasing the total amount of Mo in the system.
Drill hole TMC-18 was set at a previously untested location at the north end of the deposit. This vertical hole targeted the shallow copper cap and the underlying molybdenum zone. TMC-18 is the best hole drilled to date at Red Hills in terms of its molybdenum grades and thicknesses. TMC-18 also penetrated a thick zone of shallow copper-molybdenum mineralization averaging 0.80% Cu and 0.067% Mo over 64 metres.
The results of Tosca's drilling to date generally validate historic holes previously drilled to define the copper-molybdenum cap. In addition, Tosca's holes drilled to date to test the underlying molybdenum system show strong continuity and good molybdenum grades over wide intervals.
The Company is in the process of completing flotation tests on a number of composites at the Metcon laboratory in Tucson, Arizona. The tests are being conducted under the supervision of M3-Engineering. Complete metallurgical results are expected by year end.
This information and new resource estimates to be finalized by Mine Development Associates of Reno Nevada, will form the basis for the preparation of a Pre-Economic Assessment (PEA) on the copper-molybdenum cap.