OTCPK:MALZF - Post by User
Comment by
sledheadon Nov 23, 2010 9:30am
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Post# 17743839
RE: RE: RE: Update
RE: RE: RE: Update
The El Conpas property looks especially interesting with an update of the NI-43-101 coming before year end. Based on the grades found at shallow depths, I can see them bringing this into production very quickly.
El Compas Update
The El Compas project is located near the city of Zacatecas in central Mexico. Drilling to date on the 27.4 km2property has focused on expanding the El Compas and El Orito veinzones, and to test additional vein targets in the district. The Companyhas now completed seventy-two holes for a total of 11,312 metres at theEl Compas property, the majority of which have tested the El Compas andEl Orito veins within the currently defined resource areas. The NI43-101 compliant resource estimate prepared by the company in 2008incorporated assay data from a total of forty-eight Oro SilverResources Ltd. (OSR) and historic drill holes. Twenty-eight new holes,completed by OSR during 2009 and 2010 will be added to the drilldatabase, which will be utilized in an updated resource model that isanticipated before year end. The additional drill data will also aidongoing economic analysis with a focus on near-term productionpotential. Local area infrastructure is excellent and access to highgrade gold ore shoots may be facilitated via the existing mine accessramp at the El Compas vein. Summary of significant assay results fromrecently completed drill program with bonanza grades noted in holesCOM61, 66 and 72 (see figures 2 and 3).
JohnBrownlie added, "Oro Mining is in the process of evaluating itsproperties for development and near term production. We believe that anaggressive approach of moving to being a gold producer will createshareholder value and generate cash flow which can be used to supportongoing exploration, and to continue to produce the positive resultsthat have resulted in the company's exploration successes to date."