Location:
Aguascalientes, Mexico
44 km NE of AGUASCALIENTES
Commodities: Gold, Silver
|
 Latest Information
February 28, 2003
Initial work program commenced on property. The initial work program includes resampling of old drill cuttings and core, which will lead to a revised resource estimate. Metallurgical work, surface sampling, and further drilling are also planned.
From 1997 to 2002, no exploration had been conducted on the property.
Drilling programs 1992 and 1997, have delineated a zone with oxidized gold/silver mineralization that extends for about 800 m along strike, to a depth of about 150 m below surface, and has an average true thickness of about 30 m.
From 1990 to 1997, exploration programs to delineate the gold/silver resource have been undertaken by Real de Angeles, Real de Asientos (Luismin) and Hecla Mining Company and have consisted of mapping, surface chip sampling, trenching and drilling (both diamond core and reverse circulation).
February 11, 2003
Luzon Minerals has commenced an initial work program at the El Porvenir gold/silver property in Mexico where it is earning up to an 80% interest from
Wheaton River Minerals. The initial work program includes resampling
of old drill cuttings and core, which will lead to a revised resource estimate. Previous exploration has delineated an Indicated Mineral Resource of approximately 9 million tonnes of mineralized material containing between 233,000 and 324,000 ounces of gold and between 6.6 and 7.4 million ounces of silver. Metallurgical work, surface sampling, and further drilling are also planned. The company feels that at current gold prices, El Porvenir can and should be advanced to a feasibility study relatively quickly. Luzon also announced that it has entered into a second agreement with Wheaton River on the Villa de Ramos property in Mexico whereby it can earn a 51% interest by incurring expenditures of USD1.5 million over three years and an additional 24% by producing a bankable feasibility study. The Villa de Ramos Property consists of 1,098 ha covering an epithermal vein system located near an old mining district in the nearby village of Villa de Ramos. |
