Capitan Mining Inc. (TSXV: CAPT) has obtained excellent exploration results from its current drilling at the 100% owned Jesús María Silver Zone, at the Cruz de Plata Project (formerly referred to as the Peñoles Project) in Durango, Mexico.
Highlights:
- Hole 21-JMRC03 returned 435.02 g/t AgEq over 10.7m from the Jesus Maria Silver Zone, including three higher–grade intervals of:
- 798.29 g/t AgEq over 1.5m
- 860.19 g/t AgEq over 1.5m
- 641.0 g/t AgEq over 1.5m
- New gold-silver zone discovered to the north of the Jesus Maria Silver Zone, with 13.7m of 63.3 g/t AgEq
- Additional mineralised structures intersected in the hanging wall to the Jesus Maria Silver Zone
- Drilling is ongoing; a total of 15 RC Drill holes have been completed at the Jesus Maria Silver Zone – Assays for 11 drill holes are pending
- Capitan is re-branding its “Peñoles Project” to “Cruz de Plata Project” which is closely aligned to its silver focus and exploration potential.
Confirms Continuity High Grade Silver Mineralisation at Depth
Hole 21-JMRC-03 was designed to target one of two high-grade ore shoots nested in the Jesus Maria Silver Zone, that outcrop at surface, and have been delineated by both surface trenching and drilling.
The first ore shoot was intersected by hole 21-JMRC-01 (previously released), located 100m to the west of 21-JMRC-03, which returned 1.5m of 1,352 g/t AgEq and 1.5m of 1,177 AgEq within a wider interval of 42.7m of 224.3 g/t AgEq.
Hole 21-JMRC-03 intersected the second high-grade shoot at 79.2m downhole, returning 435.02 g/t AgEq over 10.7m, including three high-grade intervals of 798.29 g/t AgEq over 1.5m, 860.19 g/t AgEq over 1.5m, and 641 g/t AgEq over 1.5m.
The hole successfully extended high-grade mineralisation 40m down plunge from drillhole JM_DDH_12_06 located to the east. This high-grade zone remains open down plunge to the southwest. Cross section 600 where hole 21-JMRC-03 is located, had no previous drilling.
New Gold-Silver Zone Discovered
Additionally, a new zone of gold-silver mineralisation was discovered to the north of the Jesus Maria Silver Zone, with Au-Ag (Capitan Style) mineralisation intersected at 164.6m downhole, approximately 50m to the north of the Jesus-Maria Silver Zone.
This new zone returned 13.7m of 63.28 g/t AgEq, and has been interpreted to be the north-eastern extension of the Gully Fault structure, which appears to continue the north of the Jesus Maria Silver Zone. This new zone remains open along strike to the northeast.
The Jesus Maria (JM) Silver Zone is located approximately 280m to the northeast of the Capitan’s Oxide Gold deposit on its 100% owned Cruz de Plata Project. It has been traced by surface trenching and diamond drilling over a strike length of 750m and to a depth of 150m, with the majority of drilling focused over 250m strike length and less than 100m below surface.
The Jesus Maria Silver Zone has a long mining history going back to the late 1800’s, when the Penoles Mining company constructed several shafts and drifts to exploit the high-grade silver veins in the area. In recent years, work programmes conducted by previous operators has demonstrated significant potential at the Jesus Maria silver deposit. The work to date has identified two distinct styles of silver mineralisation:
- High-grade silver polymetallic veins (Silver gold lead-Zinc)
- High-grade silver with gold veins
For further information please visit: https://capitanmining.com/
