Last checked at 16 Apr 2008 07:00
Medoro Resources Announces Drilling Results
TORONTO, April 16 /CNW/ - Medoro Resources Ltd. 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. ------------------------------------------------------------------------- Hole No. From To Interval Grade Zone (m) (m) (m) (g/t) ------------------------------------------------------------------------- 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 ------------------------------------------------------------------------- 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 ------------------------------------------------------------------------- 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 ------------------------------------------------------------------------- LI07_198 112.5 118.7 6.2 2.6 Tibaire LI07_199 109.5 114.9 5.4 6.5 Tibaire ------------------------------------------------------------------------- Intervals approximate true width. Grades are uncut. -------------------------------------------------------------------------
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)
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