Minera Alamos (MAI.V) has released the assay results from three holes that were drilled on its Santana gold project in Sonora, Mexico. This is an important development as Minera has been conducting the very first exploration program since 2011, and the 2018 drill program was designed to evaluate the mineralized extensions of the previous exploration projects to figure out the next steps to expand the current resource at Santana.
All three holes encountered mineralization with hole 116 encountering 93.5 meters at 0.65 g/t gold (with the composite hole being 60 meters of 0.97 g/t gold), starting just at surface. The two other holes also contained economic grade mineralization with 17.8 meters of 0.73 g/t and 14.9 meters at 1.4 g/t gold, so these first three holes were definitely a success.
Hole 116, the one with 0.65 g/t gold starting at surface, was drilled as a step-out hole to drill-test the potential extension of the mineralization towards the southwest of the Nicho zone. Holes 114 and 115 were drilled in an attempt to define a potential satellite zone to the northeast of the main mineralization at Nicho which means the strike length of the Nicho deposit might actually be much longer than what’s currently defined.
These are just the three holes rom a 10 hole drill campaign wherein the company completed approximately 1,500 meters of drilling. The remaining holes were also targeting the same southwest and northeast strike extensions so it will be interesting to see if they contain economic grade material.