SOURCE EXPLORATION CORP. is pleased to announce the signing of a diamond drilling contract for commencement of its 2014 exploration program at the Las Minas property, Veracruz, State, Mexico.
Source has contracted with K.D.L. Mexico S.A de C.V. for a minimum of 2,800 metres of drilling, scheduled to get underway in the fourth week of January. The main focus of the program will be on delineation of the higher-grade portions of skarn mineralization identified in earlier drilling at the Santa Cruz and Eldorado discovery areas, in preparation for an initial resource calculation on these zones.
The drilling will also test a large scale magnetic anomaly proximal to high-grade mineralization intersected in the Santa Cruz area hole LM-11-SC-45, which graded 15.89g/t Au, 12.98g/t Ag and 2.25% Cu over 10.0 metres, including 37.26g/t Au gold, 25.4g/t Ag and 4.05% Cu over 4.0 metres* - see press release dated January 26, 2012. The high-grade gold values intersected in hole LM-11-SC-45 were associated with a magnetite content of approximately 80 percent.
Previous drilling at the Eldorado site intersected copper mineralization grading up to 3.05% copper, with a 21.10 metre interval averaging 1.60% copper in hole LM-11-ED-9. Drill hole LM-11-ED-15 intersected 55.4 metres of 0.54g/t gold, 5.52g/t silver and 0.71% copper within a larger intercept of 75.8 meters grading 0.46g/t gold, 4.36g/t silver and 0.60% copper - see press release dated May 31, 2011.
David Baker, Executive Chairman, stated, "We are excited about the commencement of drilling, which will allow us to follow up on the previous excellent drill results and move forward with developing a preliminary resource estimate for this part of the Las Minas project. The drill program will also test the strong magnetic anomalies located adjacent to recent high-grade drill intersections."
*All intervals are reported as down-hole lengths and additional information is required to determine true widths. Assays are uncut, length weighted average values.
Source: http://www.sourceexploration.com/