Alta Vista Ventures (CVE:AVV) provided investors Monday with an update on its Carol project in Mexico, releasing results from exploration work recently conducted by the company on behalf of its optionee Tosca Mining.
The Carol project sits 5 km northeast of the producing Piedras Verdes mine, Mexico's third largest copper producer at more than 70 million pounds per year.
Tosca, the optionee of the property, released the latest trenching results, which confirm the quality of past work performed and will help in targeting drill holes to test mineralization at depth. No previous drilling has been carried out on the asset.
Alta Vista identified widespread polymetallic mineralization in two mineralized zones at the property, Balde Norte, which measures 700 by 180 metres, and Balde Sur, which measures 1,100 by 400 metres. In 2008, five trenches were dug in the northern zone, while 12 were completed in the southern area.
The most recent work, said the company, reopened select portions of two of these trenches in Blade Sur to validate past results in preparation for a proposed drill program. Alta Vista said that continuous chip channel sampling confirmed the presence of significant mineralization in both trenches.
In BS-06, an intercept of 8 metres returned 1.06% copper, 22.5 grams per tonne (g/t) silver, 11.87% zinc and 0.26 g/t gold, while BS-08 intersected 11 metres of 0.38% copper, 22.4 g/t silver, 0.48% zinc and 0.08 g/t gold.
In addition, two grab samples taken from historic workings at the site, in the immediate surroundings of BS-06, returned high grade results, including 7% copper, 94.3 g/t silver, 34% zinc and 0.61 g/t gold, as well as 3.7% copper, 30. 3 g/t silver, 19% zinc and 0.67 g/t gold.
Alta Vista, in common with other explorers, identifies and acquires properties that it feels exhibit high potential, and then compiles data and performs first pass confirmatory exploration, advancing its assets – ideally to drill-ready stage. From here, it deviates from the common path of junior explorers by bringing in a partner that earns an interest in the project by providing funding for further exploration.