Capitan drills 36.6 m of 0.91 g/t AuEq at Penoles Capitan drills 36.6 m of 0.91 g/t AuEq at Penoles
2020-12-16 07:43 ET - News Release
Mr. Alberto Orozco reports
CAPITAN MINING DRILLS 36.6 METRES OF 0.91 G/T GOLD EQUIVALENT WITHIN LARGER INTERVAL OF 73.15 METRES OF 0.63 G/T GOLD EQUIVALENT; CONTINUES TO EXPAND CAPITAN GOLD ZONE
Capitan Mining Inc. has released results for three drill holes from its continuing 6,000-metre reverse circulation (RC) drill program at the Penoles project in Durango, Mexico: drill holes 20-CARC-08, 20-CARC09 and 20-CARC-12.
Drill highlights:
RC hole 20-CARC-12 intersected 36.5 metres of 0.91 gram per tonne gold equivalent within a larger interval of 73.15 m of 0.63 g/t gold equivalent; this hole also intersected significant widths of the hangingwall zone mineralization and extended Capitan Hill zone 65 m downdip.
RC hole 20-CARC-09 intersected 64.01 m of 0.69 g/t gold equivalent including 13.72 m of 1.26 g/t gold equivalent.
RC hole 20-CARC-08 intersected 48.77 m of 0.58 g/t gold equivalent including 28.96 m of 0.82 g/t gold equivalent.
Capitan's chief executive officer, Alberto Orozco, stated: "We are excited with the drill results to date as they demonstrate the growth potential for the Capitan gold zone at the Penoles project. Our initial holes reported focused more on the better-drilled, western portion of the resource, but as we are stepping out towards the southeast, where previous drill holes were limited, we are now seeing higher potential to increase the size of the gold-mineralized body."
Drill results discussion
Drill hole 20-CARC-12 was a stepout hole designed to test the downdip extension of the main Capitan Hill zone, as well as test for hangingwall mineralization, which was absent in hole CDDH-11-06 located immediately updip. The hole was successful in confirming the presence of up to five greater than 10 m wide mineralized zones in the hangingwall, starting from surface, with the best interval returning 22.9 m of 0.20 g/t gold, which has extended the zone down plunge 100 m to the southeast from Section 200.
Additionally, hole 20-CARC-12 successfully intersected the main Capitan Hill zone as expected, reporting an interval of 73.2 m grading 0.63 g/t AuEq including a higher-grade interval of 36.6 m of 0.91 g/t AuEq in oxides, which indicates a new higher-grade block, which may be developing in this area. This new interval extended the main Capitan Hill zone downdip approximately 65 m from hole CDDH-11-06.
Hole 20-CARC-09 was an infill hole that was designed to test a gap between two historic drill holes, both of which were terminated in the Capitan Main zone. The hole successfully confirmed the presence of the Capitan Hill zone, as well as extending the zone approximately 12.5 m to depth, compared with where the historic holes had ended, reporting an interval of 64 m grading 0.69 g/t AuEq, with a higher-grade interval of 13.5 m grading 1.26 g/t AuEq. The hole also intersected the hangingwall zone between 25 to 65 m, but only sporadic, low-grade values were returned.
Hole 20-CARC-08 was designed to test an approximate 100 m wide gap in the Capitan Main zone between surface and historic hole CDDH-12-15. The hole was successful in intersecting the updip projection of the Capitan main zone, returning an interval of 48.8 m grading 0.58 g/t AuEq.
Note
All intervals reported above are oxidized with the exception of a 12.2 m wide sulphide intercept in the Capitan Hill zone starting from 179.8 m depth.
TABLE OF DRILL RESULTS
Hole name From To Interval AuEq* Au Ag
(m) (m) (m) (g/t) (g/t) (g/t)
20-CARC-12
interval 0.0 13.7 13.7 0.12 0.12 NSV**
interval 21.3 33.5 12.2 0.15 0.15 NSV
interval 39.6 50.3 10.7 0.11 0.11 NSV
interval 65.5 77.7 12.2 0.20 0.20 NSV
interval 83.8 106.7 22.9 0.20 0.20 NSV
interval 143.3 216.4 73.2 0.63 0.55 6.53
including 143.3 179.8 36.6 0.91 0.83 6.65
and including 179.8 192.0 12.2 0.45 0.40 3.78
and including 192.0 216.4 24.4 0.30 0.20 7.74
20-CARC-09
interval 79.2 143.3 64.0 0.69 0.58 9.37
including 94.5 138.7 44.2 0.86 0.72 10.81
and including 118.9 132.6 13.7 1.26 1.04 18.24
20-CARC-08
interval 29.0 77.7 48.8 0.58 0.57 1.03
including 47.2 76.2 29.0 0.82 0.80 1.44
20-CARC-10 assays pending
20-CARC-11 assays pending
20-CARC-13 assays pending
20-CARC-14 assays pending
20-CARC-15 assays pending
Note
Drill holes are designed to cut known zones as close to true width as possible
unless otherwise stated. Only drilled widths are reported herein, with true widths
generally between 85 and 95 per cent of the reported interval.
* Gold equivalent values are calculated using an 80:1 silver-to-gold ratio.
** Denotes no significant values.
Qualified person and quality assurance/quality control
The scientific and technical data contained in this news release pertaining to the Penoles project were reviewed and approved by Marc Idziszek, PGeo, a non-independent qualified person to Capitan Mining, who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Capitan Mining has a quality assurance/quality control program that includes insertion and verification of control samples including standard reference material, blanks and duplicates consistent with industry standards.
RC drill samples from the Penoles project are collected and split at the drill site using a Gilson universal splitter. The samples are stored in either plastic bags (dry) or micropore bags (wet) and secured with plastic zip ties and then transported to the preparation laboratory of Bureau Veritas in Hermosillo, Sonora. The sample pulps are then transported to the Bureau Veritas's laboratory in Vancouver, where they are assayed for gold by fire assay with atomic absorption finish (FA430 assay method code; 0.005 to 10 parts per million in detection limit). Samples over 10 ppm Au are assayed with gravimetric finish (assay code FA530). All samples are also assayed by ICP-ES (inductively coupled plasma emission spectroscopy) (code AQ300) for a suite of 33 elements.
All summarized intervals reported in this press release were calculated using a 0.10 ppm Au cut-off grade. Intervals contain no more than three metres of internal dilution. High grades have not been capped.
About Capitan Mining Inc.
Capitan Mining is a well-financed junior exploration company focused on its 100-per-cent-owned gold and silver Penoles project in Durango, Mexico. The company is led by a management team that has successfully advanced and developed several heap leach operations in Mexico over the past 16 years.
We seek Safe Harbor.