Medoro Resources Announces Drilling Results
TORONTO, April 16 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS/AIM: MRL)
announced today further diamond drilling results from its Lo Increible gold
properties located in the El Callao mining district in Venezuela. Highlights
include hole No. 274 at El Tapon which had multiple intercepts including
38.1 metres at a gold grade of 4.8 grams per tonne (g/t) and 7.5 metres
grading 7.2 g/t
The program, consisting of twelve holes at La Cruz, two holes at La
Sofia, ten holes at El Tapon, eight holes at Tibaire and twelve holes at Los
Gritos was designed to expand and improve confidence in the resource estimate
previously reported.
Significant intervals (exceeding 10 gram-metres) are summarized below.
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Hole No. From To Interval Grade Zone
(m) (m) (m) (g/t)
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LI07_134 74.0 78.0 4.0 3.2 El Tapon
LI07_213 126.7 139.5 12.8 2.4 El Tapon
LI07_244 145.9 153.5 7.5 7.9 El Tapon
and 155.0 158.8 3.8 3.8 El Tapon
LI08_252C 177.0 191.0 14.0 5.6 El Tapon
LI08_255 179.9 195.0 15.1 3.1 El Tapon
and 199.0 210.0 11.0 2.5 El Tapon
LI08_261 145.6 146.3 0.7 17.5 El Tapon
and 170.9 176.0 5.1 4.2 El Tapon
and 187.0 196.7 9.7 2.5 El Tapon
LI08_271 93.4 95.5 2.1 15.1 El Tapon
and 100.2 102.8 2.6 8.6 El Tapon
LI08_274 164.5 172.0 7.5 7.2 El Tapon
and 179.0 217.1 38.1 4.8 El Tapon
LI08_280 53.7 56.7 3.0 4.4 El Tapon
and 91.0 95.9 4.9 3.7 El Tapon
and 131.7 141.3 9.6 4.8 El Tapon
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LI07_206 176.4 183.5 7.1 4.0 La Cruz
LI07_251 186.5 189.5 3.0 7.6 La Cruz
LI08_254 198.7 207.3 8.6 4.3 La Cruz
LI08_258 287.2 287.8 0.6 24.7 La Cruz
LI08_268 89.0 94.5 5.5 2.4 La Cruz
and 109.1 112.4 3.3 3.8 La Cruz
LI08_273 1.5 12.8 11.3 3.5 La Cruz
and 65.4 72.9 7.5 2.2 La Cruz
LI08_275 - 10.4 10.4 6.9 La Cruz
and 88.7 93.1 4.4 2.8 La Cruz
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LI07_231 171.4 179.1 7.7 5.6 Los Gritos
and 204.1 208.1 4.0 4.7 Los Gritos
LI07_242 114.8 120.1 5.3 3.5 Los Gritos
LI08_256 13.5 22.5 9.0 2.7 Los Gritos
LI08_259 118.3 127.6 9.3 2.6 Los Gritos
LI08_276 24.5 33.6 9.1 1.3 Los Gritos
LI08_281 - 9.3 9.3 4.4 Los Gritos
and 22.5 34.4 11.9 1.1 Los Gritos
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LI07_198 112.5 118.7 6.2 2.6 Tibaire
LI07_199 109.5 114.9 5.4 6.5 Tibaire
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Intervals approximate true width. Grades are uncut.
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The extension drilling at La Cruz has confirmed the continuity of this
orebody at depth and also its continuation further east than previously
interpreted, while infill drilling at El Tapon has confirmed the current
geological model and extended this to the west.
The drilling at Los Gritos, where a resource has not yet been reported,
has demonstrated the presence of a continuous zone of quartz-carbonate veining
for some 350 metres along strike and to a depth of some 200 metres which
remains open in all directions.
The company has now completed 13,000 metres of diamond drilling which is
aimed at adding resources outside of the existing zones, testing the potential
of near-surface mineralization at La Cruz and defining high-grade shoots along
the La Cruz structure. The company currently has three drill rigs on the
property, two of which are dedicated to upgrading the resources at the La
Cruz, La Sofia and El Tapon zones and one of which is being used to evaluate
four additional prospects, among others, that have been identified within Lo
Increible 4A and 4B - Tibaire, La Lapa, La Loca and Los Gritos.
At the Lo Increible properties, gold mineralization occurs as lode-gold
shear-hosted quartz-carbonate veins. Mineralization is associated to the
east-northeast to east trending Lo Increible shear, and it shares with the
nearby Choco 10 mine similar lithologies, structural features and style.
Dr. Mike Armitage C.Eng. C. Geol. is the Qualified Person for this
project, is independent of the company and has reviewed this press release.
Medoro has used Actlabs Laboratories in Venezuela as the primary
laboratory. Split HQ core samples of 4 to 5 kilograms were crushed and
pulverized to 500 grams. A 30 gram sample was split for Fire Assay analysis
using AAS finish, and gravimetric finish if Au was greater than 2.0 grams per
tonne. A comprehensive quality control program, which includes blanks,
standards, field duplicates and cross checks was employed. This QC program
included the use of certified standard reference samples.
Medoro Resources is a gold exploration and development company focused on
acquiring properties of merit for potential joint ventures with senior
producers. The company holds a 100% interest in the Lo Increible 4A and 4B
concessions in Venezuela and interests in seven gold exploration areas in the
Republic of Mali. Additional information on the company can be found by
visiting the company's website at www.medororesources.com. Medoro's Nominated
Adviser for the purposes of AIM is Canaccord Adams Ltd. (Ryan Gaffney), +44
(0) 20 7050 6500.
Glossary:
AAS: Atomic Absorption Spectrometer.
Split HQ: A standard form of core size.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
For further information: Robert Doyle, (416) 603-4653,
rdoyle(at)medororesources.com
(MRL)