Argentum Silver (ASL-V) continues to pull some sexy intercepts out of the El Tajo and La Colorada veins at its Coyote project in Mexico since acquiring 100% of the project from Soltoro (SOL-V) in August.
The junior explorer has just completed its second drill program at the silver-gold property in Jalisco state, about 180 km east of Puerto Vallarta and 140 km southwest of the state capital of Guadalajara.
The 2,164-metre drill program encompassed seventeen holes and the company released assays from the final seven holes today. Of the seven holes, four explored the El Tajo vein and three explored the La Colorada vein to the northwest of El Tajo.
The highlights were two El Tajo intercepts of 2.90 metres grading 449 grams silver per tonne and 1.44 grams gold per tonne from hole 2012-42, and a lower intercept from hole 2012-36 of 3.70 metres of 179 grams silver.
So far drilling has intercepted the El Tajo vein to vertical depths from surface ranging from 65 to 120 metres over a strike length of 600 metres. A separate sub-parallel hanging wall vein labeled Upper El Tajo 2 has been intercepted over a strike length of 350 metres.
Drill intercepts at El Tajo to date range from widths of 0.85 metres to 11.0 metres and grades from 38 grams silver to 1,470 grams silver. At Upper El Tajo 2 the intercepts range from 0.35 metres to 2.5 metres and grades from 16 grams silver to 1,083 grams silver.
The El Tajo vein remains open at depth and to the north-east and southwest.
The Coyote property spans 1053 hectares and contains dozens of individual low sulfidation epithermal silver-gold veins and stockworking. Most of the mineralization occurs within seven defined zones within an area of about 1.5 by 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Stockwork zones have been mapped at surface where widths have exceeded 35 metres.
At presstime Argentum shares were trading for 19¢ apiece within a 52-week range of 7¢-34¢.
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