With the completion of a 7-hole diamond drilling program, Toltec Resources (VSE) has opted to drop its option on the Middlemarch property in Cochise Cty., Ariz.
Toltec had the right to earn a 60% interest in the property from owner, West Pride Industries (VSE), by spending US$2.1 million.
The company drilled a total of 1,113.5 ft. with the best intersections returning 5 ft. grading 1.78% copper and 9.87% zinc on the Cobre Loma-Missouri No. 1 target, and 8.3 ft. grading 12.87% zinc on the China Peak target.
Toltec noted that drilling on the Cobre Loma-Missouri target indicates the mineralized zone is more flat-lying than originally thought and as a result, previous surface sampling exaggerated the zone’s true width. The company added that surface sampling on other targets did not return sufficient results to warrant any drilling by the company.
Be the first to comment on "Toltec drops Middlemarch option (May 04, 1992)"