Cerro Resources NL announced assay results for an additional 18 drill core holes from the Namiquipa Silver Project in Chihuahua state of Mexico. 60 holes have been completed for a total of 22,633 meters of core with further assays pending. Drilling has resumed after the holiday break.
Highlights of the Princesa and Megan Vein system include;
1. NAM-047 6 meters 1,175 gram per tonne AgEq from 163 meters;
2. Iincluding 1.4 meters 3,607 gram per tonne AgEq from 164.6 meters;
3. NAM-036 12.5 meters 129 gram per tonne AgEq from 330.4 meters with zinc values averaging 3%;
4. NAM-039 2 meters 898 gram per tonne AgEq from 388 meters.
Core drilling has now intersected mineralization to vertical distances of 350 meters below the surface and continues to be open at depth. High grade mineralization intersected in NAM-047 correlates with mineralization intersected in NAM-018 and remains open at depth. Further drilling will test down dip and strike extensions.
Core rigs operating at Namiquipa have continued to test the main vein systems at depth and along strike. To date the drilling confirms the system consists of multiple veins and strongly anomalous assays across the six main veins identified to date Princesa, America, Mexico, Megan, Esmeralda and Antenna.
Eleven of the core holes currently being reported were drilled to test mineralization along the Princesa and Megan Vein system. Assay results were also received for three drill holes designed to test surface geological features and potential mineralization along the Antenna system. And results were received for holes drilled to test targets in the Northern Extension Area as well as results for two holes drilled to test the Southern Area.
The historic La Venturosa Mine produced an estimated 14.4 million ounces of silver, 32,550 tonnes of lead and 43,530 tonnes of zinc from two prominent quartz and breccias vein systems the America and Princesa in a wider six vein system.
The Princesa and Megan vein continues to be the principle target of Cerro Resources' exploration program, as the Princesa vein was only reported to have been mined to 100 meters below the surface and the down dip projection of the mineralization remains open at depth as well as along strike to the north and south..
NAM-033 and NAM-034 were drilled below the previously reported NAM-008 which intersected an open stope at the target depth. NAM-033 also intersected an open stope at the projected target but still cut 0.49m with 409 gram per tonne AgEq comprised of 96 gram per tonne Ag, 2.5%Pb and 8.92%Zn from 213.2 meters to 213.7 meters. NAM-034 drilled at a steeper angle on the same drill platform as NAM-033 and intersected 133 gram per tonne AgEq over 7 meters from 257 meters to 264 meters with highs of 4% Pb and almost 14% Zn. NAM-034 was also successful in intersecting multiple silver, lead and zinc mineralization within a much larger zinc zone that broadly defines the Princesa system.
NAM-036 was drilled as an infill hole between NAM-029 and the section containing drill holes NAM-008, NAM-033 and NAM-034 discussed above. The strong lead and zinc mineralization along with silver was also intersected in this drill hole, highlighted by 127 gram per tonne AgEq over 11.6 meters with 20 gram per tonne Ag, 1.13% Pb and 2.78% Zn from 243.3m to 255 meters. Zinc values again clearly define this zone, containing highs to 18% Zn over 0.47 meters and 8.3% Zn over 1.15 meters. NAM-036 also intersected a deeper and broad zone consisting of 129 gram per tonne AgEq over 12.5 meters containing 10.9 gram per tonne Ag, 1.24% Pb and 3.06% Zn from 330.5 meters to 343 meters.
NAM-037 targeted down dip projections of the Princesa Vein intersecting 124 gram per tonne AgEq over 1.6 meters with 70 gram per tonne Ag and 0.63% Pb and 1.34% Zn from 339.3 meters to 341 meters.
NAM-039 was drilled below previously reported NAM-016 and intersected a 13.3 meters drilled length of mineralization from 376.7 meters to 390 meters averaging 169 gram per tonne AgEq and included 2 meters interval averaging 898 gram per tonne AgEq with silver to 305 gram per tonne Ag over 0.9 meters and also containing 19% Pb and 24% Zn.
NAM-043 was drilled south of NAM-008 and north of NAM-016. This drill hole also intersected multiple zones of mineralization, highlighted by 102 gram per tonne AgEq over 12 meters from 343 meters to 354 meters, comprised of 13 gram per tonne Ag, 1.95%Pb and 4.61% Zn.
NAM-047 drilled south of NAM-018 successfully intersected significant broad zones of silver mineralization along the Princesa Vein system including 6 meters of 1,175 gram per tonne AgEq with 1.41 meters containing 3,540 gram per tonne Ag, 1.02% Pb and 1.43% Zn. A broader zone was intersected lower in the drill hole consisting of a drilled interval of 18.6 meters from 202 meters to 220.6 meters containing 127 gram per tonne AgEq.
NAM-049 drilled approximately 130 meters south of NAM-047 intersected the Princesa Vein at approximately 80 meters to 107 meters and included a 5 meters interval containing 56 gram per tonne AgEq.
NAM-052 drilled below NAM-049 and was terminated because of strongly broken ground after intersecting a possible historic working. However, despite being stopped early the drill managed to intersect 26.8 meters averaging 61 gram per tonne AgEq from 156 meters to 182.8 meters.
NAM-057 was drilled below NAM-029 and intersected both the Princesa Vein at approximately 231 meters to 234 meters with 545 gram per tonne AgEq comprised of 193 gram per tonne Ag, 2.84% Pb and 9.99% Zn. The drill hole also intersected the Megan Vein lower in the hole consisting of a 27 meters interval averaging 167 gram per tonne AgEq.
NAM-058 drilled below NAM-002 has results showing 13 meters interval from 283 meters to 296 meters averaging 71 gram per tonne AgEq and a lower zone with 6m from 320 meters to 326 meters averaging 79AgEq.
