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Gold-Ore Resources Ltd. is working on the San Marcial Project in Sinaloa State.

Gold-Ore Resources Ltd.    GOZ  (CDNX)

Latest Press Releases

San Marcial Project, Sinaloa.  Gold-Ore Resources has signed an agreement to acquire a 100% interest in a prospective bulk mineable silver property. The property is readily accessible, 90 km E of Mazatlan. The original claim group totals 119 ha and the company has registered an additional 1,131 ha around the original claim group, and is in the process of having those claims surveyed. Cambior, IMMSA, Frisco and Coeur d'Alene have all spent time evaluating this property. The main targets are two silver-bearing zones, approximately 300 m apart. Each zone appears to be 100 - 150 m in diameter -- open in all directions -- and consists of stockwork and fracture filling (breccia-type) silver mineralization. Initial chip sampling by an independent consultant on behalf of the company returned anomalous silver results, with many of the assays ranging from 150 grams to 344 gpt Ag (4.38 opt to 10.04 opt). One 20 m section within the southern zone average 189 gpt Ag (5.51 ounces/ton). All analyses were completed by standard fire assay at Chemex Laboratory in North Vancouver. An initial trenching program is planned to evaluate two main targets, to be completed by the end of March, with drill testing of the zones to follow. Gold-Ore has the right to earn a 100% interest in the property from Minera Holmex S.A. de C.V., subject to a 3-per-cent NSR, by expending $600,000 (U.S.) on the property and by making cash payments totaling $630,000 (U.S.) over four years. A staged finder's fee during the option period, totaling 50,000 shares of the company and $10,000, is also payable to an arm's-length party. The agreement is subject to regulatory approval.

Results from the trenching include the better definition of two breccias adjacent to the vein and about 250m apart. The NW of these has an estimated true width of 75 m averaging 196 gpt Ag including 45m of 402 gpt. The SE zone has an estimated true width of 25m averaging 193 gpt Ag.

PIC Mining Commentary Week of 5May00
Press Release 23Feb00