Announcement • Jul 29
Mercado Minerals Reports Drill Results from Copalito Project
Mercado Minerals Ltd. announced drill results from the Copalito Project from its inaugural 3,000 metre diamond drill program located in Sinaloa, Mexico. Highlight results include 0.80 metres of 9 g/t silver, 5.37 g/t gold, 1.65% lead and 10.05% zinc (675 g/t silver equivalent) within a wider 3.40 metre interval of 11 g/t silver, 3.53 g/t gold, 1.45% lead and 4.41% zinc (403 g/t silver equivalent) from 118.00 metres. Step-out drilling at the El Pilar Vein returned the two best mineralized intercepts at the target to date. The El Pilar Vein has been defined by drilling over a strike length of 1,250 metres, with an area of higher-grade mineralization that measures approximately 400 metres in strike length by 200 metres down the dip plane of the vein. The entire El Pilar Vein remains open along strike and to depth in all directions. Expansion of this area will be a focus for future drill programs. COP-26-019 intersected 3.40 metres of 11 g/t silver, 3.53 g/t gold, 1.45% lead, and 4.41% zinc (403 g/t silver equivalent) from 118 metres, including 0.80 metres of 9 g/t silver, 5.37 g/t gold, 1.65% lead, and 10.05% zinc (675 g/t silver equivalent). COP-26-018 intersected 4.05 metres of 9 g/t silver, 1.86 g/t gold, 1.19% lead and 4.08% zinc (264 g/t silver equivalent) from 117.40 metres, including 0.65 metres of 18 g/t silver, 3.80 g/t gold, 3.14% lead and 11.85% zinc (635 g/t silver equivalent). Step-out drilling at the El Agua Vein successfully intersected robust vein mineralization and has defined a higher-grade corridor that measures approximately 500 metres along strike and 200 metres down dip, within the larger 950 metre strike length of the El Agua Vein. Mineralization remains open along strike in both directions and is partially open to depth and provides a new and accretive centre for future focused drill testing. COP-26-023 intersected 8.00 metres of 103 g/t silver, 1.11 g/t gold, 0.18% lead, and 0.86% zinc (200 g/t silver equivalent). Drilling at the 5 Señores Vein successfully intersected the south-east extension of the vein, with two wide vein intercepts measuring 4.50 metres and 7.80 metres (drill lengths) from the same drill hole. The current mapped 250-metre-long strike length remains open in all directions and future targeting will focus on vectoring towards potentially higher grades of mineralization. Drilling at the newly discovered El Pilar Sur Vein intersected a robust 8.80 metre (drill length) vein, confirming the presence of a significant structure. Future work will focus on vectoring towards higher-grade portions of the structure along its 300-metre-long strike length. Table 1 – Significant Drill Hole Intersections. Silver-equivalent values are calculated assuming typical recoveries based on metallurgical studies conducted on analogous epithermal vein deposits and are not necessarily reflective of metallurgy on the property. No metallurgical work has been reported on the property. The recoveries used are 91% silver, 94% gold, 70% lead, and 75% zinc. The silver – equivalent formula is: ((24 silver (g/t)0.91 /31.1035) + (1900 gold (g/t)0.94 /31.1035) + (0.90 2204 lead %0.7/100) + (1.10 2204 zinc %0.75/100))*(31.1035 /24). Metal price assumptions are $24/oz silver, $1,900/oz gold, $0.90/lb lead and $1.10/lb zinc. Disclosure for Mineral Projects) and was reviewed and approved by Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited. Mr. Willms is a Qualified Person for the purposes of National Instrument 43-101.
