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Cocula Property
During early 2008 the Company completed first phase sampling of several trenches at its Cocula Project located approximately 50 kilometres west of Guadalajara, Jalisco, Mexico. The 102 channel samples taken across the highly oxidized and brecciated zone returned an average grade of 2.21 g/t Au, 19 g/t Ag, 0.97 % Pb, 0.11 % Zn and 0.08 % Cu across 99 metres. A high grade core within the breccia returned 6.90 g/t Au, 17.7 g/t Ag, 0.06% Cu, 1.07 % Pb, 0.12% Zn across 18 metres. This NW-SE trending alteration zone has been traced along strike for over 1.5 kilometres. The zone has an average width of 200 metres and is exposed over a vertical extent of between 40 and 50 metres. The zone remains open along strike and is projected to extend at least 150 metres down dip. While the Company had been confident a low grade, bulk tonnage target would be identified, the high grade results encountered on surface have made evaluation of the economic potential of the Cocula Property a higher priority for the Company.
The epithermal mineralization lies within an argillized and brecciated shear zone between two semi parallel faults within a volcano-sedimentary sequence. The zone is strongly oxidized and silicified with common jarosite and stockworks of galena and sphalerite. Silicification is present in the form of vuggy silica, chalcedony banding and quartz veinlets. The bottom of the oxidized cap within the volcano sedimentary sequence can be identified by pervasive silicification and intense quarts veinlets, including disseminated pyrite, lead and zinc sulfides near its base.
A comprehensive sampling, trenching, mapping program and 32 hole, 2,700 meter reverse circulation drill program were also completed during the current period. A total of 302 channel samples were taken from seven trenches excavated along 400 meters of strike. The trenches, 2 meters deep, 25 to 250 meters long and 25 and 100 meters apart, were all cut perpendicular to the principal trend of the mineralization. Results from the trenching program include 2.398 g/t Au across 136 meters, including a high grade core grading 5.506 g/t Au across 50 meters, 2.080 g/t Au across 19 meters and 2.087 g/t Au across 18 meters. The mineralization is hosted in two highly oxidized and brecciated zones known as the Cerro Colorado and La Chabela stockwork zones. It is important to note that while the mineralized system has been traced for over three kilometers, this detailed mapping and sampling of the trenches concentrated on only 400 meters of strike length. The program identified the zones of alteration and the distribution of the precious and base metal along the entire 400 meters sampled.
Most assays from the RC drilling have been received and will be disseminated once Company geologists have had an opportunity to review and analyse all the data and information obtained from the program. The drill program was initiated to test the down dip extension of the mineralized zone along 1 kilometer of strike. True widths along this zone vary from 300 meters in the northwest to 20 meters in the southeast.
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