Riverside Resources and Sierra Madre Developments have obtained assay results of a comprehensive soil sampling program that was specifically designed to test the possible west expansions of the oxide gold mineralization, which was identified during the phase I drill program conducted at the El Capitan target in Penoles project.
Mineralized gold of economic grade was discovered in the El Capitan drill program over a strike of around 700 m and the mineralized zone seems to be exposed for an extension along strike towards the area’s west and northwest part.
An oxide gold prospect that is partly outlined, two former silver mines and several targets of previous phase are present in the Penoles project. Those early phase targets located in a land package, enclose over half of the former Penoles Mining district.
A near-surface overburden masks the zone mineralization at the El Capitan together with the possible extension. The company has decided to complete a comprehensive soil sampling before performing further drill testing. It gathered a total of 980 samples at the intervals of 12.5 m along 25 m of spaced profile lines for along the strike for more than 350 m of the zone mineralization. Nevada-based Inspectorate Laboratories examined the soil samples with the help of standard fire assay methods and strong anomalous values of gold are found within west-northwest striking anomaly of thickness from 150 to 250 m. This anomaly expands from the DDH 11-05 across the complete survey grid and is exposed towards the western part. Many soil samples from the southwest part of DDH 11-05 yielded strong anomalous values of gold. The company has planned to start further drill testing at El Capitan target. The results are pending.