Excalibur Resources Ltd. (CNSX:XBR) announced results from the San Miguel and Tanous Mines at the Catanava property in Mexico.
As quoted in the press release:
The current sampling program continues to confirm high grade gold mineralization at Levels 01, 02 and 03 of the past producing mine. This mineralization is located ranging 20 to 75 meters below surface. The zone is best illustrated in the middle portion of the workings, where intersections up to 1.2 m @ 11.80 g/t Au and 48 g/t Ag were obtained. This mineralized ore shoot may correlate with all levels of the San Miguel Mine and subsurface. The San Miguel Mine has the most extensive old workings on the Catanava Property and extends to at least 95 meters depth and over 120 meters of horizontal drifts.
Excalibur’s Chairman and CEO, Tim Gallagher, said:
Further exploration is needed to properly map and sample the better zones so that we can plan and prioritize the mine development to access these areas with the objective of providing a uniform and predictable stream of broken material to the mill for processing.