Hellix Ventures’ President, Frank Underhill has announced the assay results from the company’s Margarita gold project located in southern Arizona. The company has concluded about 12 vertical diamond drill holes to the highest depth of 100 ft to validate prior near surface test results.
In the Main Margarita Zone, drill holes #01, #03, #04, #05 and #06 were drilled and in each of these holes, excluding # 05 drill hole, provided the results of near surface or surface continuous mineralization with standard values varying from 0 .75 g/Mt to 2.99 g/Mt. Drill hole #01 ended in mineralization at a depth of 75 ft. Additional check will be performed on pulps obtained from the #05 drill hole. Drill hole #08 returned the highest value of 10. 5 g/Mt. # 02 and #07 holes were drilled in the North Margarita Zone. Drill #07 provided results of 1.12 g/Mt over a 20 ft length from the surface. #08, #09 and #010 holes were drilled in the North Hill Zone, wherein #08 and #09 had 20 and 21 ft respectively of extended mineralized intervals near surface.
Drill holes #11 and #12 in the Cascabel Zone provided only limited siliceous material. However, as per the data given by prior exploration companies, previous holes drilled in this region showed far greater values. On the other hand, the coordinate systems employed on the previous drill program were not standardized and hence actual locations of the historic holes drilled in the northern zone could not be verified. Hellix Ventures will use these assay results to locate these holes.
The intensity of the mineralization suggests higher grade values on the flat fault zones, which divide the volcanics from the quartz monzonite porphyry intrusive. Improved grade values are correlated with higher sulfide concentrations that have been oxidized.
Hellix Ventures has submitted 18 samples from the core to test for specific gravity values in order to find out the rock material’s tonnage factor.
Source: http://www.hellixventures.com/