Mexoro Minerals Announces Inferred 15.25 Million Tons Grading 2.62 g/t Gold Equivalent at Its Cieneguita Project in Mexico
Inferred 15.25 Million Tons Grading 2.62 G/T Gold Equivalent At Its Cieneguita
Project. (OTC Bulleting Board: MXOM) (
Mexoro Minerals Ltd. is pleased to announce that it has updated its
preliminary technical report estimate at its Cieneguita Project located in
finishing 100 holes for a total of 20,215 meters of drilling. The Company is
waiting for the results from 48 of these drill holes to come back from
analysis by ALS Chemex labs. Once all the results have been received from the
drilling program, the Company plans to complete a rigorous reserve estimate.
In the interim
Consultants, has updated its preliminary cross section-based geologic model
and has calculated inferred mineralized material of 15.25 million tons at a
grade of 2.62 g/t gold-equivalent. These figures represent an in-situ
inferred geologic resource with no consideration of metallurgical recoveries
or smelter returns. His technical report discusses potential recovery factors
and individual metal contents in detail, and the report will be posted soon on
http://www.mexoro.com. This preliminary estimate was done to better understand
the geologic controls of mineralization, and the distribution of areas
requiring more drilling, rather than as a rigorous reserve estimate. Mr.
Durgin is independent of Mexoro by the definitions and criteria set forth in
Canadian National Instrument 43-11. The inferred mineralized material
described conforms to the definitions adopted by the CIM on
The
funnel which has been flattened laterally. At the surface the mineralized
body is approximately one kilometer long and averages 200 meters in width.
The north and south sides are nearly vertical; the east and west sides are
more gently inclined. One of the drill holes was stopped in the breccia at
290 meters, thus the breccia body extends to at least that depth. As well,
the mineralized deposit remains open to the south west.
In calculating the estimate, geology and individual assays from 52 drill
holes were displayed on a cross-section based construction of a set of
orthogonal sections, with surface and drillhole geology and assays plotted on
each section, and as such a three dimensional geologic model was compiled. A
cut-off grade of
calculated to define the boundaries of mineralized bodies. On cross sections,
mineralization was projected half the distance to adjacent sections, and half
the lateral distance to adjacent holes or 50 meters, whichever was less. The
gold-equivalent figures were calculated using a three year trailing average of
The best grades and greatest thicknesses of this Au-Ag-Pb-Zn
mineralization are concentrated in the western half of the deposit, south of
area of the inferred throat of the diatreme, so mineralization is expected to
extend to greater depths in that area.
For a complete assay table and maps of
website at http://www.mexoro.com.
estimate is a key first step in advancing the
the feasibility stage. These results suggest great consistency and continuity
of the project’s mineralization and having taken in consideration only 50% of
the completed drill holes, we see the potential of
of the major discoveries in the region.”
These results have been prepared under the supervision of
MSc., Mexoro’s President. He has the expertise and authority to verify the
authenticity and validity of this data. The qualified person who has done the
geologic modeling and the resource calculation and has reviewed this news
release is
Professional Geologist (CPG #10364) with the American Institute of
Professional Geologists, and a Registered Professional Geologist in
(PG-2886).
About Mexoro:
Mexoro Minerals Ltd. is an exploration company focused on exploring for
precious metals in the traditionally mineral rich Sierra Madre region of
additional exploration has confirmed significant mineral potential. The
Company also has claims on additional properties in the
This Press Release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The Company
has tried, whenever possible, to identify these forward-looking statements
using words such as “anticipates”, “believes”, “estimates”, “expects”,
“plans”, “intends”, “potential” and similar expressions. The Company believes
it has on its
million tons at a grade of 2.62 g/t gold equivalent. These statements reflect
the Company’s current beliefs and are based upon information currently
available to it. Accordingly, such forward-looking statements involve known
and unknown risks, uncertainties and other factors which could cause the
Company’s actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The Company undertakes
no obligation to update or advise in the event of any change, addition or
alteration to the information catered in this Press Release including such
forward-looking statements.
Cautionary Note to US Investors:
All mineralized material have been calculated in accordance with the
definition standards on mineral resources and mineral reserves of the Canadian
Institute of Mining, Metallurgy and Petroleum referred to in Canadian National
Instrument 43-101, commonly referred to as NI 43-101. U.S. SEC reporting
requirements for disclosure are governed by SEC Industry Guide 7. NI 43-101
and Industry Guide 7 differ materially.
The United States Securities and Exchange Commission limits disclosure for
U.S. reporting purposes to mineral deposits that a company can economically
and legally extract or produce. We use certain terms in this press release,
such as “reserves,” “resources,” “geologic resources,” “proven,” “probable,”
“measured,” “indicated,” or “inferred” which may not be consistent with the
reserve definitions established by Industry Guide 7. U.S. investors are urged
to consider closely the disclosure in our filings with the SEC. You can review
and obtain copies from the SEC website at http://www.sec.gov/edgar.shtml.
Corporate Headquarters
Mexoro Minerals Ltd.
C. General Retana #706
Col. San Felipe,
Chihuahua,, Chih. C.P. 31203
Mexico
Tel: +52 (614) 426-5505
SOURCE Mexoro Minerals Ltd.