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Thursday, 24th January 2008 (4584 views)

A drilling campaign for the La Sabila prospect in southern Mexico is progressing "much faster" than originally planned, according to the company behind the project.

US Precious Metals has appointed a contractor for the drilling, Micro Tuneles Suministros Del Occidente (MTSO), which will begin at the end of the month.

Jose Garcia, the president of subsidiary company US Precious Metals de Mexico, has travelled to La Sabila ahead of MTSO's arrival to plan logistical support, the company said.

US Precious Metals president, David Burnley, said the drilling campaign represented an "important milestone" for the company.

"La Sabila is an exciting mineral resource, with three million tonnes of mineralised rock which have been previously defined," he said.

He added that the amount of mineralisation showing on the surface at La Sabila, combined with the presence of quartz-sulfide veining recognised in an earlier drill campaign, justified deep drilling.

The La Sabila prospect is part of the Solidaridad property in the southern state of Michoacan. According to the company's exploration data, it has a potential gold resource of 308,000 ounces.

 

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