Brigadier Gold (BRG.V) has provided a preliminary exploration update on its ongoing drill program on the Picachos gold-silver project in Mexico’s Sinaloa state. The first drill hole has now successfully intersected the San Agustin vein about 65 meters below the historical workings, over a reported width of approximately 5 meters.
The true width is still unknown at this point but we would estimate the true width to be approximately 60-70% based on the cross section provided in the press release. If our assumptions are correct, a true width of 3 meters would be excellent, but everything will obviously depend on the grade. The core from the first hole is on its way to the lab, so we can probably expect to see the initial assay results in the second half of November.
The second hole is currently in progress and is aiming to intersect the San Agustin vein again approximately 25 meters below the intersection in the first hole. If successful, this would indicate the vein will have been traced for a vertical depth of about 100 meters. Thereafter, drilling will likely focus on expanding the strike length of the vein system which is several kilometers long. And just to give you an idea how fast one can build up a decent amount of tonnes, for every strike length of 500 meters, a true width of 3 meters and a confirmed vertical depth of 100 meters, the area will contain about half a million tonnes of rock. That doesn’t sound like much in absolute numbers, but given the high-grade nature of the San Agustin mine, the grade will be the deciding factor.
November will be an important month for Brigadier as the assay results (grades!) will provide a lot more information about how prospective the San Agustin vein is at depth while the ongoing 5,000 meter drill program will give us an indication on the total size of the vein district at Picachos.
Disclosure: The author has a long position in Brigadier Gold. Brigadier is a sponsor of the website.