MAG Silver Discovers High Grade Molybdenum With Gold at Cinco De Mayo
Hole 130, reported 75 metres (beginning near surface) averaging 0.307% molybdenum (Mo), including 34.5 metres averaging 0.637% Mo with 0.140 ppm gold, and also including 4.65 metres that runs 1.64% Mo with 0.467 ppm gold.
A second hole, 83, cut a 56.8 metre section (beginning near surface) running 0.19% molybdenum with 0.11 ppm gold, including a 17.4 metre section within the lower part of the zone that runs 0.47% molybdenum with 0.20 ppm gold. The base of this zone also includes a 2.3 metre section carrying 4% Zinc.
"The Pozo Seco moly-gold zone intersections are significant in that they not only report high grade Mo (Au) over appreciable widths...creating potential as a stand-alone high-grade molybdenum target, but they are remarkably similar to mineralization that flanks the central parts of San Martin-Sabinas, Zacatecas, the largest skarn-replacement deposit known in Mexico," said Dan MacInnis, MAG Silver President. "The Cinco de Mayo system continues to demonstrate its extent and strength as a very high percentage of the recent holes, drilled in the 7.5 by 16 kilometre area south and west of the Jose Manto, have encountered new silver, gold and molybdenum mineralization. The Pozo Seco moly-gold results may be a strong indicator that a causitive intrusive center is located nearby. The data are being compiled into a state-of-the-art database which indicates we have numerous additional geophysical targets to test and we look forward to continued significant advances in our understanding of this very large, complex, and poorly exposed system."
The company’s address is Bentall Tower 5,