In Oaxaca state, the Mexican subsidiary of Teck (TEK-T) has identified a gold deposit with bulk-mining potential.
The 8-by-8-km concession is held by the Mexican subsidiary of International Northair Mines (INM-V) under an option agreement for both surface and mineral rights.
Nine holes were drilled in a reverse-circulation program on the San Pedro-San Pablo target. Five of the holes encountered gold mineralization.
Hole 1 intersected 27 metres grading 0.12 gram per tonne; hole 2 hit 49.5 metres grading 0.51 gram and 10.5 metres of 2.14 grams; hole 3 encountered 85.5 metres of 0.97 gram, including 7.5 metres of 1.3 grams and 15 metres of 2.14 grams; hole 4 intersected 96 metres grading 0.62 gram gold, including 3 metres of 1.63 grams and 7.5 metres of 1.88 grams; and Hole 9 returned 22.5 metres grading 0.4 gram, and an additional 44.5 metres of 0.7 gram, including 10.5 metres of 2.59 grams.
The remaining four holes intersected anomalous gold values.
Teck plans to spend US$450,000 on the property in 1997.
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