- Ranchero Gold Corp. (RNCH) confirms gold after a successful drill program at the Maíz Azul prospect on the Santa Daniela Project
- All 16 completed drill holes intersected gold mineralization during the program
- The Santa Daniela project is surrounded by six major gold mining operations
- Drilling confirmed widespread gold mineralization at focused targets
- The company will be advancing these exploration targets in the second half of 2022
- Ranchero Gold Corp. (RNCH) is down 3.70 per cent and is trading at $0.26 per share as of 1:00 p.m. ET
Ranchero Gold (RNCH) confirms gold after a successful inaugural drill program at the Maíz Azul prospect.
The Maíz Azul prospect is on the Santa Daniela Gold Project in Mexico.
During this phase 1 drill program, all 16 completed drill holes intersected gold mineralization.
The Santa Daniela concessions represent one of the largest unexplored claim blocks located within the Sierra Madre Occidental gold belt and are surrounded by six major gold mining operations.
Bill Pincus, CEO and Director of Ranchero, stated,
“Exploration efforts are already underway at the greater Santa Daniela project area where a number of new exploration targets are undergoing field visits… There are currently nine targets that are located in close proximity to existing deposits or past producing operations at the neighboring Mulatos Gold mine to the northwest.”
The Phase I drill program was designed to test two principal targets, La Colmena and La Cascada. Drilling confirmed widespread gold mineralization at both targets and provided confirmation that high-grade mineralization exists within a lower grade halo.
The company will be advancing these exploration targets to drill-ready prospects in the second half of 2022.
Drilling priorities are to expand the La Colmena zone eastward, initial drill testing of the X-structure target, initiate drilling of new targets identified by the ongoing modelling, and commencement of resource definition drilling.
Currently, Ranchero has budgeted for a minimum of 4,000 metres of combined diamond core and reverse circulation drilling.
Ranchero Gold Corp. (RNCH) is down 3.70 per cent and is trading at $0.26 per share as of 1:00 p.m. ET.