Tuesday, 18th March 2008 (2871 views)

Canadian exploration firm Franc-Or Resources has announced the results of its drilling campaign at the Mario property in central Peru.

In the most recent round of drilling for the 3,500-metre programme, 17 diamond drill holes were competed in and around the Cerro Punapuna complex, the company said.

Highlights of the results from this phase included the discovery of a "broad zone" of disseminated gold, which started a depth of 26 metres.

Results from this area included an intersection of 127.9 metres averaging 0.68 g/t gold. This included a section of 42.75 metres graded at 1.04 g/t gold.

Franc-Or said further work will be needed to determine the economic significance of the new zone, however it added that the widths encountered by drilling so far indicate that it could be suitable for open pit mining. The potential for this type of operation will be evaluated with further drilling, the company said.

The Mario property is situated around 50 kilometres south-west of Huancayo in the high-altitude central Andean Highlands of Peru.

 

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