www.animasresources.com
Animas Resources is a North American exploration company with diversified mining interests in Mexico. Building from the historic resource base at the Santa Gertrudis deposit (within a 214 sq. mile concession), the company will strategically expand the near surface and deeper resources to the economic decision points that increase shareholder value. The company also plans to evaluate numerous targets within its 296 sq. Kilo metre Shirley concession with the intent to form joint venture opportunities.
Animas Resources commences diamond drilling programme to test El Tigre gold targets
Animas Resources (TSX-V: ANI) has announced the commencement of a 3,000 metre drilling programme at the El Tigre area in Mexico to explore for a causative intrusive and proximal skarn mineralization, while also considering other targets.
These potential targets include extensions of the Cristina epithermal gold mineralization to the north and the potentially bonanza-grade roots of this system as well as several other targets, which will be drilled if large tonnage potential can be inferred.
The company has also reached confidentiality agreements with two companies, allowing them to review the mine for leach potential of the district. Apart from NI43-101 compliant resources at La Cristina, the district has non-compliant historic resourses and existing lined leach pads.
The distal gold potential will be considered as part of the review of the non NI 43-101 compliant resources. Animas is currently considering commissioning a new resource review to potentially update some of the historic resources.
“We are excited to test the large tonnage potential El Tigre targets and continues to delineate other quality targets for additional drilling. We have known from the beginning that the district has important potential for mine for leach material and now that the principle focus for large discoveries is not spatially in the areas of known oxide resources and historic occurrence, it is a good time to entertain serious reviews of the leach potential,” said President of Animas Gregory McKelvey.
Back in March, the company reported that drilling at El Tigre intercepted significant skarn altered intervals of anomalous Mo, Bi, As, Sb and long intervals of anomalous zinc.
The Latin America focused company has re-consolidated the Santa Teresa District's Santa Gertrudis precious metal and related deposits and prospects within a 562 sq km (square kilometer) land holding. The mine at Santa Gertrudis has produced over 560,000 oz (ounces) of gold from a mine commissioned to start with 1.2 Moz (million ounces).
Animas has recently optioned into two gold properties in Nevada, the Golden Arrow and Kinsey Mountain, and will operate both projects with the initial option to earn a 51% interest in each property.
Last week the company announced a non-brokered private placing to raise gross proceeds of C$1.4 million, through the issue of 4 million units, comprising one share and one half warrant, at C$0.35 per unit. The proceeds will be used for drilling at the company’s Santa Gertrudis property in Mexico, the Golden Arrow property and the Kinsley Mountain property, and for general corporate purposes.
