American Consolidated Provides Update on Sierra Rosario Property
November 16 2011 - 7:00AM
Marketwired
American Consolidated Minerals Corp. (TSX VENTURE:AJC) (the
"Company") is pleased to announce initial work is underway in
preparation for an extensive exploration program at its Sierra
Rosario silver/gold Property, located in the state of Sinaloa,
Mexico (see news release dated May 11, 2011).
The Company, along with its 50% operating partner, International
Northair Mines Ltd. (TSX VENTURE:INM) ("Northair"), is preparing to
conduct an exploration program at Sierra Rosario that will focus on
the San Rafael Zone, as well as a number of associated attractive
silver and gold targets on the property. This major exploration
program is scheduled to begin in January 2012 and will include
geological mapping, sampling, trenching and geophysics in order to
establish drill targets.
"We're excited to get the project underway at Sierra Rosario,"
stated Al Fabbro, President of American Consolidated Minerals. "The
San Rafael Zone is an excellent drill target and represents the
type of bulk minable potential that drives shareholder value."
Sierra Rosario Property
The Sierra Rosario Property was staked by Northair to cover the
San Rafael gossan and a significant number of placer gold
occurrences in numerous small drainages in the northern portion of
the project area (to view a map click on:
http://www.internationalnorthair.com/i/maps/2011-11-15-SierraRosarioMineralizedZones.jpg).
Initial sampling of the San Rafael Zone by Northair returned an
average value of 181 g/t silver and 0.32 g/t gold from 23 chip
channel samples averaging 5 metres in length from quartz stockwork
within a rhyolite porphyry.
Initial exploration was focused on the southern area of the
concession, but later included construction of the first road
access to the San Rafael Zone. Sampling completed along the road
cuts in the San Rafael Zone included an additional 321 continuous
channel samples along 3 meter sample lengths. In this area, two
continuous channel samples measuring 34.8 meters and 27 meters in
length averaged 192 g/t silver and 91.8 g/t silver, respectively -
reinforcing the bulk minable potential of the zone.
During the exploration program at the San Rafael Zone, Northair
discovered two small historical underground mines to the east which
host manto-skarn base and precious metal mineralization. At the
Dulces Nombres target, 35 underground chip samples from 1.5 to 3.0
metres in length averaged 0.71g/t gold, 263 g/t silver and 0.35%
copper. At the La Descubriadora target, 19 chip samples of similar
size, taken underground, averaged 0.40 g/t gold and 83.7 g/t
silver. These discoveries provide significant upside exploration
potential at Sierra Rosario, in addition to the prime San Rafael
Zone target.
History
Mineral exploration in the Sierra Madre Occidental dates from
Spanish times. In the Sierra Rosario region, early small-scale
mining for silver, gold and copper may date from the late 19th or
early 20th century. At Sierra Rosario, significant prospects with
evidence of prior artisanal workings include limited underground
developments in the southern part of the claim and small pits,
adits and dumps in the northern part. Also, there are dozens of
small, alluvial gold pits in drainages within and outside the
southern part of the Property.
Targets
The Sierra Rosario Property hosts a number of gold-silver +/-
copper vein and/or fracture-controlled prospects typical of many
precious and base-metal deposits in the prolific Sierra Madre
Occidental mineral belt of western Mexico.
San Rafael, a silver-gold epithermal occurrence in the northern
part of the claims, is the principal prospect. It consists of a
zone of faults, fractures, veins and local quartz stockworks
covering an area of some 120 by 70 metres within a small exposed
stock of altered granodiorite porphyry. Historical trench samples
contain up to 192 g/t silver over 34.8 m and 0.22 grams/metric ton
(g/t) gold.
The technical content of this press release has been reviewed by
Fred Hewett, President and CEO of Northair, the Company's 50%
operating partner. Mr. Hewett is a Qualified Person under NI
43-101.
A technical report entitled "NI 43-101 Technical Report on the
Sierra Rosario Gold-Silver Project, Sinaloa, Mexico" dated June 24,
2011 by J. E. Christoffersen, B.Sc., P.Eng., is available for
viewing on www.sedar.com and on the Company's website.
American Consolidated is dedicated to the principles of
environmentally sound mining practices and believes that
environmental stewardship and mining can co-exist.
For details on the Company and its properties, visit the
Company's website at www.americanconsolidatedminerals.com.
ON BEHALF OF THE BOARD
Al Fabbro, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: American Consolidated Minerals Corp. Al Fabbro
President 1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)www.americanconsolidatedminerals.com
(TSXV:AJC)
Historical Stock Chart
From Sep 2024 to Oct 2024
(TSXV:AJC)
Historical Stock Chart
From Oct 2023 to Oct 2024