- Ranchero Gold (RNCH) is continuing to advance the drill program at its Santa Daniela project in Sonora, Mexico
- The Toronto-based resource company has drilled 360 metres over two holes to date
- The Phase 1 drill program is expected to include 13 holes, covering 3,000 metres
- The current drill program is focused on expanding the known gold mineralization at Maíz Azul and initial testing of two highly prospective targets
- The most advanced project in the Santa Daniela concessions is the Maíz Azul prospect
- Ranchero Gold is down 2.56 per cent, trading at $0.38 at 11:21 am ET
Ranchero Gold (RNCH) is continuing to advance the drill program at its Santa Daniela project in Sonora, Mexico.
The Santa Daniela project consists of a large 22,000-hectare concession located in the heart of the Sierra Madre Occidental gold belt situated in close proximity to a number of currently-operating gold mines.
The Toronto-based resource company began drilling on October 27, and has drilled 360 metres over two holes to date.
The Phase 1 drill program is expected to include 13 holes, covering 3,000 metres.
The current drill program is focused on expanding the known gold mineralization at Maíz Azul and initial testing of two highly prospective targets.
The Sierra Madre Occidental region is a regionally-extensive Tertiary volcanic field, comprised of two distinct volcanic sequences, an older andesitic and dacitic series, and a younger, pyroclastic dominated rhyolitic series. The Upper Series overlies the Lower Series with erosional disconformity and comprises a sequence dominated by stratified volcanic ash beds. Most significant metal occurrences, including Ranchero’s prospects in the area, are hosted by rocks of the Lower Series.
The most advanced project in the Santa Daniela concessions is the Maíz Azul prospect. It lies approximately 3.5 kilometres southeast of Alamos Gold’s San Carlos and El Victor deposits, part of the Mulatos gold complex. It is contained within the Lower Series volcanic rocks which also host gold mineralization at Mulatos. Historic drilling encountered gold mineralization in multiple drill holes including 37 metres averaging 1.56 grams per tonne of gold.
The current drill program is planned to test the three targets. The program is designed first, to confirm and expand upon the historical drilling at La Colmena. The program will also provide an initial test of the La Cascada zone which has the largest surface expression of the three targets. Finally, one drill hole will provide an initial test of the X Structure.
The Maíz Azul prospect covers just a small portion of the company’s 22,000-hectare concession block. Reconnaissance efforts have yielded additional targets for further field investigations.
Ranchero Gold is down 2.56 per cent, trading at $0.38 at 11:21 am ET.
