Creston Begins Sonora Drilling
Creston Moly Corp. (TSX-V: CMS) has announced that it has begun its 2010 drill program at its molybdenum project in Sonora, Mexico and expects to be releasing results on a regular basis for the duration of the program.
As well the company has recently conducted a multi-element analysis on rock chip samples taken in the past few months and also on pulp samples from previous drilling on the property. The results of the analysis indicate wide spread silver values and are very encouraging.
Purpose of the 2010 Drill Program
- Expand the El Creston deposit to the north, where a review of the drill sections shows all of the northernmost holes located along a 350 metre segment of the resource are open and report higher than the average resource grade.
- Complete in-fill drilling in areas of limited drilling within the Creston Main Zone Resource.
- Define a zone at Red Hill that may be incorporated into the proposed Creston Open Pit.
- Complete drill testing for structural and hydrological information.
Highlights of the Re-sampling Program include drill intercepts of:
- 86.65 metres averaging 6.05 g/t silver (Hole EC08-022)
- 117.80 metres averaging 3.88 g/t silver (Hole EC08-025)
- 112.90 metres averaging 5.49 g/t silver (Hole EC07-014)
- 211.70 metres averaging 2.61 g/t silver (Hole EC08-021)
Incorporating the results of the 2008 and 2009 surface sampling programs confirmed widespread, anomalous in-rock silver values of >2 g/t silver occurring throughout the 5.5 km long Creston Trend in association with molybdenum bearing zones. Highlights include several anomalies outlined at the Alejandra Zone (including chip samples assaying 16.2, 10.9 and 95.8 g/t silver over 3 metres) with the largest of the anomalies coincidental with the Alejandra West Molybdenum Zone. Elsewhere on the property extensive silver in-rock samples were outlined at the Red Hill West and Southwest Aster Anomalies, with anomalous sites located within and adjacent to the Creston Main Deposit.
Pulp Re-sampling Program
Limited work by Amax in the mid 1970’s identified anomalous silver values within the Creston Main Deposit. Results included sections of 19.5 and 8.0 metres assaying 5.0 and 8.6 g/t silver respectively. Analysis for silver was not completed in subsequent drill programs until 2009, when Creston assayed pulp samples from holes drilled in 2007 and 2008. The drill holes were located along three sections spaced at 200 metre intervals over the Creston Main and Red Hill Zones. Fifteen drill holes from the Creston Main Zone and three from the Red Hill Zone analyzed by Inductively Coupled Plasma (I.C.P.) multi-element analysis showed extensive silver bearing intersections occurring in both the oxide and sulphide portions of the Main Deposit. At Red Hill, one of three drill holes intersected a 48.20 metre section averaging 2 g/t silver that corresponds with the Red Hill Shallow Zone.
Surface Sampling Results
During 2008 and 2009 continuous rock chip and grab samples were collected from several zones, including the Creston Main Zone and the Alejandra Zone located within the Creston Trend. The survey consisted of 736 samples being collected and the results showed anomalous >2 g/t silver values to occur in association with molybdenite in several zones.
Alejandra
Sampling at the Alejandra Grid yielded 359 grab samples in 2008 and 206 chip in 2009, of which 124 assayed >2 g/t silver. Using the 2 g/t silver grade as a cut-off, several multi-site anomalies were outlined throughout a 1 km x 2 km area. The largest of the anomalies (defined by 46 samples that include three 3.0 metre samples assaying 10.9, 8.9 and 7.9 g/t silver) outlines an area 300 metres wide x 800 metres long and is coincidental with the Alejandra West Zone.
Creston Main
Sampling within the northern portion and along the north, east and south margins of the Creston Main Zone between 2008 and 2009 yielded 82 chip samples. Assay results of the samples taken within the Creston Zone (as defined by the resource limits) generally consisted of low silver values with the best chip sample assaying 3.5 g/t silver over 3 metres. Along the south-eastern margin of the deposit a 150 x 200 metre zone was outlined (defined by six samples was outlined with the best sample assaying 8.6 g/t Ag over 3 metres). To the west, east and north silver values are erratically high with spot anomalies being formed.
Red Hill West
The Red Hill West Zone is overlain by a > 2 g/t in silver anomaly measuring up to 300 metres wide by 1,100 metres long (defined by 22 chip and 11 grab samples). Within the anomaly chip samples results include several sites returning values >5 g/t Ag to a maximum of 14 g/t over 3 metres.
Southwest Aster Anomaly
The Southwest Aster Silver Anomaly is defined by the 2 g/t silver contour measuring up to 200 metres wide by 700 metres long The anomaly, consisting of 23 chip samples, contains several sites returning values in excess of 5 g/t silver to a maximum of 34.3 g/t silver over 3 metres.
Red Hill and A-37 Zones
No surface sampling for silver was conducted in the Red Hill Zone and no samples from the A-37 Zone assayed > 2 g/t silver.
About International Minerals
IMZ is a silver-gold producer, explorer and developer with silver-gold production from its 40%-owned Pallancata Mine, one of the top-10 primary silver mines in the world. IMZ estimates production (on a 100% project basis) from the Pallancata Mine for calendar year 2009 at over 8.0 million ounces of silver and 30,000 ounces of gold (40% of which are attributable to IMZ). Production (on a 100% project basis) of approximately 10 million ounces of silver and 35,000 ounces of gold is expected in calendar year 2010.
In addition to the Pallancata Mine and the Inmaculada Project, IMZ has other interests in exploration level projects in Peru and Nevada and development stage projects in Ecuador. IMZ is also in the process of acquiring Metallic Ventures Gold Inc, which, subject to certain conditions, is scheduled to close on February 26, 2010. This acquisition will result in IMZ acquiring two additional advanced exploration gold projects in Nevada and a production royalty from one of Barrick Gold’s mines, also in Nevada.
IMZ has been listed on the TSX since 1994 and the SIX since 2002.
Posted Feb. 04.10