Bearing Resources, a precious and base metal exploration firm based in Canada, has started a drill campaign at its Parrandera gold-copper project situated in the Mapimi region of Durango, Mexico. The company can earn a 100% interest in the Parrandera properties, which have been optioned.
About 1,200 m of drill core in 6 to 8 drill holes will be included in the drilling campaign, which is likely to be concluded by May, 2012. The drill campaign will study the Parrandera target for base and precious metal mineralization. A 1,500x500 m anomaly has been defined through soil geochemical sampling, prospecting and induced polarization survey. The anomaly contains a zinc, copper, and gold soil anomaly with partially induced polarization chargeability highs situated in regions of historical tunneling and pitting. Sampling from an adit returned a 20 m average grading of 0.33% copper and 2.58 g/t gold. Samples obtained from the 92.73 m-long adit returned an average grading of 0.15% copper and 0.86 g/t gold.
Bearing’s reconnaissance activities in Mexico are concentrating on base and precious metal-rich systems that are similar to Goldcorp's Camino Rojo and Penasquito deposits. The Parrandera properties denote a tiny part of the Mapimi gold and silver project, which comprises an adjoining land position that measures roughly 40,000 ha and is located in the Altiplano Region of Central Mexico. The Mapimi gold and silver project shows a number of features that characterize these deposits, specifically the carbonate replacement and breccia hosted mineralization related with covered porphyry mineralization.
Bearing Resources believes that the base and precious metal mineralization discovered till date on the Mapimi silver-gold property may pinpoint a larger mineral system beneath shallow cover. Additionally, the purchase of the KM 66 property depends on the completion of a definitive agreement.
Source: http://www.bearingresources.ca/