Mexican Gold Announces Drill Results From the Las Minas Project and Provides a Corporate Update - Seite 2

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El Dorado Infill Drilling

Wide hole spacing in certain pockets of the known resource at El Dorado presented an opportunity to add ounces to the resource by way of additional drilling to bridge the statistical correlation.  The Company had identified three pockets that needed one drill hole each in order to potentially add mineralization at El Dorado.

Two holes, LM-19-JB-26 and LM-19-JB-27, were drilled in the most sparsely sampled portion of the El Dorado zone, which coincided with a limited, relatively weak portion of the resource area. The 2019 holes provided much stronger results than the surrounding holes, providing additional tonnage and showing that there are no consistent zones of weakness within the El Dorado deposit.  A third hole (LM-19-JB-28), which targeted an undrilled area of the Dike Contact zone, never penetrated the contact, remaining in contact-related endoskarn with moderate mineralization.

Cinco Senores

The western area of Cinco Senores is entirely overburden covered.  Hole LM-19-CS-14 cut mostly intrusive rock with weak to moderate skarn suggesting the hole appears to be within a dike.  Hole LM-19-CS-15 began in strong endoskarn which weakened downhole but carried anomalous gold, silver, and copper values, suggesting the hole was drilled into a dike and away from the mineralized exoskarn known to exist to the north-east.

Pueblo Nuevo

The first drilling in the long history of mining on the Pueblo Nuevo concession tested 2 areas: Tamiahua and Dos Rios both of which have extensive historic mining featuring high gold values, coincident with strong topographic lineaments suggesting the presence of cross structure.  Although drilling encountered several gold-bearing veins, the vein intersections lacked the high gold grades and the concentrations of base-metal sulphides that had been sampled extensively on surface.  Please refer to Map 2 below. 

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Hole Locations: https://www.globenewswire.com/NewsRoom/AttachmentNg/c24dee2e-8bd4-4b79 ... 

Drill Results: https://www.globenewswire.com/NewsRoom/AttachmentNg/596088d4-0a94-4df9 ... 

Gold equivalent (Au Eq) calculations used metal prices of USD $1500/ounce for gold, USD $18.00/ounce for silver, and USD $2.75/pound for copper.  No adjustments were made for potential relative differences in metal recoveries.