Source Exploration Corp.: Infill Drilling at Las Minas Project Supports Results of Prior Drilling at El Dorado Target
13 March 2014 - 11:00PM
Marketwired
Source Exploration Corp.: Infill Drilling at Las Minas Project
Supports Results of Prior Drilling at El Dorado Target
THUNDER BAY, ONTARIO--(Marketwired - Mar 13, 2014) - SOURCE
EXPLORATION CORP. (the "Company" or "Source") (TSX-VENTURE:SOP) is
pleased to announce that seven new infill drill holes drilled at
the El Dorado target of the Las Minas Project have confirmed the
results outlined by earlier exploration drilling. The seven holes
are part of a planned two phase program totaling approximately
2,800 metres of delineation drilling at the El Dorado and Santa
Cruz discovery areas.
The mineralized skarn zone at El Dorado remains fully open to
the east and west and continues towards the south where it is
believed to merge with the higher grade Santa Cruz zone. Previously
reported exploration drilling at Santa Cruz intersected high-grade
mineralization in hole LM-11-SC-45, which returned 15.89 grams per
tonne gold (g/t Au) 12.98 grams per tonne silver (g/t Ag) and 2.25
percent copper (% Cu) over 10.0 metres(m) - see press release
January 26, 2012. The El Dorado and Santa Cruz zones are only two
of the several known mineralized skarn zones that occur on the
property.
The gold - silver and copper mineralization zone outlined in the
infill drilling is genetically related to the Las Minas
granodiorite intrusive and the hydrothermal systems that
accompanied granitoid emplacement. The Las Minas granodiorite
intrusive measures approximately 10 kilometres in diameter and
underlies the Las Minas concessions.
NEW DRILL RESULTS
Selected drill highlights from the first seven holes of infill
drilling include:
Hole LM-14-ED-03 returned:
- 0.77 g/t Au, 13.4 g/t Ag, 5.37% Cu or 10.2 g/t Au Eq over 2.0
metres within
- 6.9 m grading 0.28 g/t Au, 4.74 g/t Ag, 1.76% Cu or 3.37 g/t Au
Eq within
- 18.2 m grading 0.27 g/t Au, 3.35 g/t Ag, 0.93% Cu or 1.91 g/t
Au Eq
Hole LM-14-ED-05 returned:
- 1.60 g/t Au, 5.56 g/t Ag, 0.92% Cu or 3.26 g/t Au Eq over 6.0
m
Hole LM-14-ED-07 returned:
- 1.66 g/t Au, 8.31 g/t Ag, 0.91% Cu or 3.36 g/t Au Eq over 2.4
m
- 0.57 g/t Au, 4.32 g/t Ag, 1.10% Cu or 2.52 g/t Au Eq over 11.4
m.
President & CEO, Brian Robertson said, "We are excited about
these new drill results, which supports the results of previous
drilling and bodes well for the development of an initial resource
estimate. Recent results confirmed that the mineralized skarn zone
at El Dorado remains open both on strike and down dip."
Table 1 Selected Las Minas Project Drill Results, March 2014
Hole No. |
From (M) |
To (M) |
Interval (M) |
Gold g/t |
Silver g/t |
Copper % |
Au Eq1 g/t |
LM-14-ED-01 |
111.7 |
117.7 |
6.0 |
0.74 |
1.60 |
0.53 |
1.67 |
|
|
|
|
|
|
|
|
LM-14-ED-02 |
103.0 |
112.2 |
9.2 |
0.38 |
2.00 |
0.43 |
1.15 |
|
|
|
|
|
|
|
|
LM-14-ED-03 |
110.3 |
128.2 |
18.2 |
0.27 |
3.35 |
0.93 |
1.91 |
Including |
110.0 |
114.0 |
4.0 |
0.75 |
6.80 |
1.17 |
2.85 |
Including |
121.3 |
128.2 |
6.9 |
0.28 |
4.74 |
1.76 |
3.37 |
Including |
124.1 |
126.1 |
2.0 |
0.77 |
13.4 |
5.37 |
10.17 |
|
|
|
|
|
|
|
|
LM-14-ED-04 |
125.7 |
139.8 |
14.1 |
0.44 |
1.55 |
0.39 |
1.14 |
Including |
125.7 |
135.8 |
10.1 |
0.56 |
1.95 |
0.49 |
1.43 |
|
|
|
|
|
|
|
|
LM-14-ED- 05 |
135.4 |
141.4 |
6.0 |
1.60 |
5.56 |
0.92 |
3.26 |
|
|
|
|
|
|
|
|
LM-14-ED-06 |
51.2 |
53.6 |
2.4 |
0.23 |
4.77 |
0.63 |
1.39 |
|
|
|
|
|
|
|
|
LM-14-ED- 07 |
12.9 |
15.4 |
2.4 |
1.66 |
8.31 |
0.91 |
3.36 |
and |
41.4 |
44.4 |
3.0 |
1.38 |
3.28 |
0.17 |
3.04 |
and |
59.3 |
70.7 |
11.4 |
0.57 |
4.32 |
1.10 |
2.52 |
|
|
|
|
|
|
|
|
1 Gold equivalent (Au Eq) calculations use metal prices of US$
1200/oz. for gold, US$ 19.00/oz. for silver and US$ 3.00/lb. for
copper. No adjustments have been made for potential relative
differences in metal recoveries.
Au Eq g/t equals Au g/t + (Ag g/t x 0.016) + (Cu% x1.71)
All intervals are reported as down-hole lengths and based down -
hole structural data, the intercepts may be approximately 95% of
true thickness. Assays are uncut, length weighted average
values.
Quality
Assurance/Quality Control
The technical information in this news release has been reviewed
and approved by Sonny Bernales, P. Geo., a registered Professional
Geoscientist in the Province of British Columbia and a qualified
person as defined by National Instrument 43-101. Mr. Bernales is
responsible for logistics and supervision of all exploration
activity conducted by Source on the property.
The Company has implemented and adheres to a strict Quality
Assurance/Quality Control program which includes inserting
mineralized standards and blanks into the sample stream, about 1
for every 10 samples. The standards and blanks were obtained from
CDN Resource Laboratories Ltd. of Langley, BC, Canada. Each sample
bag is properly sealed and kept in a secured, restricted storage
place prior to shipping to the lab. Samples are shipped directly by
Source or picked-up by the lab vehicle with chain of custody/sample
submittal signed and dated. The Company sends it samples to SGS
Mineral Services (ISO/IEC 17025) at Durango, Mexico, an accredited
laboratory.
About Source
Exploration
Source Exploration is a Canadian based mineral exploration
company committed to building long-term value through ongoing
discoveries and strategic acquisitions of prospective precious
metals deposits in Mexico. Source is exploring the Las Minas
project, which is located in the core of the Las Minas district in
the Veracruz State, Mexico. The district is host to one of the
largest under explored skarn systems known in Mexico and has a
strong production history that dates back to the Aztec era.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This
news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements about the magnitude or quality of mineral
deposits, anticipated advancement of mineral properties or
programs, future operations, results of exploration, prospects,
commodity and precious metals prices, future work programs,
anticipated financial and operational results, capital expenditures
and objectives. Forward-looking information is necessarily based
upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors, which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking information, including the risks identified in the
Corporation's disclosure documents. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date
hereof and is based on the opinions and estimates of management and
information available to management as at the date hereof. The
Corporation disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
Shares Issued: 62,776,235
Source Exploration Corp.Brian RobertsonPresident &
CEO807-474-4271 or
807-251-1816807-474-4272info@sourceexploration.comwww.sourceexploration.com
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