Thursday, 29th May 2008 (583 views)

Underground channel sampling at the Noria target in the Corralitos property, Mexico, has returned high-grade gold values, the company behind the work has said.

First Point Minerals said the target, the western-most zone of mineralisation on the Corralitos site, comprises three known limestone-hosted structures.

Highlights of the assays returned from the sampling work include gold graded at 24.3 g/t gold over an estimated true width of 1.8 metres.

Other key results included samples of 10.7 g/t gold over three metres, 7.0 g/t gold over 3.8 meters and 5.7 g/t gold over 5.6 metres.

There were also samples graded at 17 g/t gold over 1.5 metres, 3.7 g/t gold over 9.2 metres and 14.1 g/t gold over 0.9 metres.

The Corralitos property covers 11,445 hectares around 80 kilometres north-east of the Mexican city of Nuevo Casas Grandes in Chihuahua state.

First Point optioned the property in 2007. It can acquire a 100 per cent interest in the site if it spends $2 million (£1 million) on exploration and issues 500,000 shares to its previous developer by 2012.

 

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