Mexico’s Best Drilling Intercepts, Third Week of July 2023

Four companies posted drilling results from properties in Mexico. By a long margin the more impressive results are those presented by Heliostar Metals from the Ana Paula project in Guerrero, with the highest gold results so far in the year of 241.95 m @ 9.06 gpt Au, or 2,192 gpt*m Au. The hole that returned such results was drilled thorough the high grade core of the deposit with the aim to confirm the continuity of mineralization in the zone, provide metallurgical material and check for the presence of faults. Heliostar is trying to confirm that the high grade core of the deposit can be mined profitably using underground methods.

First Majestic Silver released results from drilling at San Dimas, in Durango, and at Santa Elena, in Sonora, with relevant results both in gold and silver. GoGold Resources presented assays from drilling at the Main Area of the Los Ricos South project in Jalisco, and Los Gatos Silver from resource definition drilling at its Cerro Los Gatos property in Chihuahua.

With the exception of Ana Paula, all projects in the list are part of low or intermediate sulfidation epithermal systems. Ana Paula is a complex deposit with skarn, hornfels, replacement mineralization with a late low sulfidation phase over imposed.

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