Mining Weekly published an article today based on the June 2nd press release issued by Newstrike Capital. Below is an excerpt of the article, click here to read the entire piece in Mining Weekly.
Precious metals-focused explorer Newstrike Capital on Tuesday reported that it had found three significant mineralised structural corridors at its Ejutla property, located in Oaxaca State, Mexico.
The Vancouver-based firm, which targets known and historic mining districts in Mexico, said that a recent exploration programme had found these structures to each host extensive gold and silver-bearing, low-sulphidation epithermal veins, have been identified.
“Our exploration efforts at Ejutla confirm a target-rich environment and results underpin the exciting potential for substantial extensions to known mineralised systems. The Ejutla property is located within the Taviche Mining District, an area already well known for its significant gold and silver production,” Newstrike president and CEO Richard Whittall said.
Ejutla comprises the 18 866 ha Ejutla Fracc 2 claim block, 100% owned by Newstrike with no royalties, and located 45 km south of the capital city of Oaxaca de Juarez.
The property is in the region of Fortuna Silver’s producing San José-Trinidad mine, 20 km to the west of Ejutla, and Gold Resources’ El Águila mine 25 km to the east, as well as several other Canadian exploration projects.
Newstrike would now complete a Canadian National Instrument 43-101-compliant technical report on the property that would include recommendations for future drilling. The report is expected soon.
Among the exploration highlights were channel sample 59092, which measured 0.412 g/t of gold and 701 g/t silver over a 0.6 m interval, sample 29055, which measured 0,013 g/t gold and 664 g/t silver over a 5 m interval and sample 39466, which measured 1.26 g/t gold and 14 g/t silver over a 1.8 m interval.
The three structural corridors consist of a series of north-west trending fracture zones that display important northerly and north-easterly trending splays, each filled by mineralised felsic dikes and/or by complex sub-parallel mineralised low sulphidation banded epithermal quartz and quartz/calcite veins and vein systems typical of structures in the surrounding Taviche Mining District.
Individual veins vary in thickness from a few centimetres to as much as ten metres and are separated by a host wallrock that displays extensive argillic alteration and silicification.
To read the rest of the article, click here.