RE: Goldcorp-San Anton J/VSNN.T
Principal Shareholders: (approx. number of shares+options+warrants held and corresponding percentage of fully diluted shares outstanding)
Kings Minerals NL: 85,000,000 (~64% of fully diluted)
Insiders: 9,000,000 (~7% of fully diluted)
Institutions: 14,000,000 (~11% of fully diluted)
Gregory Bowes, President of Andaurex commented that "While a multi million ounce resource has already been outlined at Cerro Gallo in less than two years, it is still a relatively new discovery that is proving capable of generating some pleasant surprises. The deposit is still open laterally and at depth and significant opportunities exist to enhance the economics of the deposit by expanding both the gold rich and gold skarn zones and by exploring over 10km of related epithermal vein-breccia systems." He added that "these latest results will enable us to evaluate a number of development scenarios including starting up with a standard gold processing plant."
Gregory Bowes, President of Andaurex commented that "The discovery of the gold skarn and the continued expansion of the gold rich zone indicate that gold mineralization is both higher grade and more extensive at the southern end of the Cerro del Gallo deposit. As a result, we will be able to evaluate the economics of a number of development scenarios including starting up with a standard gold processing operation."
Some of the more significant new intersections within this zone include 140.21m grading 0.89 g/t Au from 108.20m in hole SA-204, 214.88m grading 1.05 g/t Au from 32.00m in hole SA-205, and 70.10m grading 1.29g/t Au from surface in SA-208.
35m grading 1.23g/tAu, 4g/t Ag and 0.43% Cu from 139.00m in hole SA-120, 15.24m grading 2.99g/t Au, 3g/t Ag and 0.33% Cu from 167.64m in hole SA-088, 13.00m grading 2.25g/t Au, 4g/t Ag and 0.56% Cu from 170.00m in hole SA-128 and 13.72m grading 3.70g/t Au, 4g/t Ag and 0.47% Cu from 236.22m in hole SA-188.
San Anton Mexico.
Cerro del Gallo Deposit.
The company is advancing with it's study work on the Cerro del Gallo gold-silver-copper deposit, primarily with the remodelling program that will allow the resource to be updated with geological and mineralogical data to provide an improved understanding of the resource. This will allow the company to evaluate the potential of initially developing the near surface relatively higher grade gold-silver mineralisation prior to developing the lower grade gold-silver-copper mineralisation.