Riverside Resources and Sierra Madre Developments have declared drill results, which also comprise a 20.9 m of 1.01 g/t gold from the initial two drill holes at the El Capitan Target. This target forms part of Riverside Resources’ Peñoles Project in Durango, Mexico.
In 2011, drilling tested 60% of the zone’s strike extent. The current drill campaign will analyze the down-dip extent, will further analyze the westward strike continuity, and offer enough drill hole density for a preliminary resource estimation on the El Capitan gold zone.
At the El Capitan Target, the initial two holes CDDH 12-01 and CDDH 12-02 were drilled in the central section of the identified mineralized zone between CDDH 11-02 and CDDH 11-18 drill holes. These new holes intersected the most significant mineralized intervals observed so far at the El Capitan Target.
The company has outlined three mineralized rock units at El Capitan. At the upper section of the mineralized zone, a volcanic agglomerate is intersected by hydrothermal breccias and quartz veinlets and averaged 0.2 to 0.5 g/t gold; a shallow dipping, silicified zone at the base of the volcanic unit averaged 0.7 to 1.5 g/t gold; and beneath this zone a sequence of oxidized shales intersected by hydrothermal breccias and quartz veinlets averaged 0.2 to 0.6 g/t gold.
At the El Capitan body, the system is low-sulfidation epithermal style and has low silver values averaging 1 to 4 g/t silver. However, high-grade silver averaging 100 to 500 g/t with zinc, lead, and copper occurs in other zones on the property.
On the Peñoles Project, there are about 10 other targets including the historically mined Jesus Maria and San Rafael silver-gold-lead-zinc mines and the newly declared Pinchanzo zone. The district has active mining operations close by and is highly prospective. A number of geologists are presently assessing the Pinchanzo Target, and results will be announced once they are available.