The discovery of gold and silver mineralization in the Regions Escondido
Mineral IRL said in a statement issued to the Lima Stock Exchange, announced the update of exploration results in Escondido Project in Patagonia, Argentina. Assays have been received in recent wells drilling Phase 2 (December 2010) and the initial 20 wells in Phase 3 exploration drilling referring to the executed in April and May 2011.
Highlights:
They have discovered high grade intersections, including the well E-D10-026 with 0.70 meters with an average of 136 g / t gold and 157 g / t silver and well ED11-037 with 4.20 meters with an average of 1.6 g / t gold and 663 g / t silver including 0.55 meters with 4.2 g / t gold and 1.250 g / t silver.
Intersections on new potential high volume include the well E-D11-052 with 16.20 meters averaging 2.05 g / t gold and 7.4 g / t silver (including 1.95 meters averaging 10.0 g / t gold and 14.4 g / t silver), and the well E-D11-053 with 19.65 meters averaging 2.43 g / t gold and 10.4 g / t silver (including 2.55 meters with 9.55 g / t gold and 51.6 g / t silver).
The exploration area of interest now extends over 1.7 km with evidence of predominantly gold and silver to the northwest predominantly to the southeast.
“The discovery of gold mineralization and high grade silver in the Escondido area opens up new perspectives for this project,” said Courtney Chamberlain, CEO of Mineral IRL. “While we have more work to do, the importance of these new structures is showing high-grade exploration potential of high grade gold and silver. We have also been continually receiving incentives in large volumes in low grade mineable that were previously reported. “