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Monday, 12th May 2008 (2316 views)

Canadian gold explorer Farallon Resources has reported "excellent new results" from its drilling programme at the G-9 deposit of the Campo Morado project in Mexico.

The company said it has three drill rigs currently in operation at the site with the aim of discovering another G9-style deposit and advancing previously identified zones of mineralisation.

Results from the latest round of work include gold grades of 4.23 g/t gold over an estimated true width of 12.93 metres, 2.88 g/t gold over 9.25 metres and 1.59 g/t gold over 38.52 metres.

Additional results include gold values of 1.40 g/t gold over 22.84 metres, 1.70 across 14.04 metres and 1.92 g/t over 10.86 metres.

Commenting on the results, Farallon president and chief executive Dick Whittington said they confirmed "the grade and tonnage potential" of the North and Abajo zones, while also indicating the potential for new discoveries at the site.

"The results for the West Extension are particularly exciting as they open up a new area that will soon be reached by the advancing decline and can be followed up in the near term," he added.

The Campo Morado property covers approximately 116 square kilometres in the state of Guerrero in southern Mexico. It is situated around 160 kilometres south-west of the country's capital, Mexico City.

 

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