Past year: ▼ 22%(18.0c – 31.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
12 July 2012drilling result▲ GoodMajor
A single hole, TU-12-145, extended Ixtaca North and returned unusually silver-rich intervals: 11.00 metres at 1.09 g/t gold and 580.7 g/t silver, and 6.80 metres at 1.13 g/t gold and 860.7 g/t silver. Silver, not gold, is carrying the value in this part of the system.
9 July 2012drilling result▲ Good
Nine holes, with 44.01 metres at 1.04 g/t gold and 95.8 g/t silver on the northeast extension. TU-12-155 was drilled close to perpendicular to that zone, giving a true width for the first time and showing it strikes differently from the main and north zones - a geometry the earlier angled holes had obscured.
26 June 2012drilling result▲ Good
Ixtaca North now traced over nearly 700 metres of strike on the company's interpretation. Best interval was 25.00 metres at 4.22 g/t gold and 15.41 g/t silver in the main zone, with TU-12-138 giving 95.20 metres at 0.54 g/t gold and 61.1 g/t silver in the north zone.
4 June 2012drilling result▲ Good
Eleven more holes, four of them into the newly recognised Ixtaca North zone running parallel to the main zone. TU-12-126 returned 126.1 metres at 1.21 g/t gold and 63.0 g/t silver, including 8.75 metres at 4.09 g/t gold and 228.8 g/t silver.
7 May 2012drilling result▲ GoodMajor
Twenty-two holes, including the first infill sections tightened from 50-metre to 25-metre spacing: TU-12-96 gave 97.9 metres at 0.92 g/t gold and 65.2 g/t silver, including 7.79 metres at 4.76 g/t gold and 277.3 g/t silver. The tighter grid is the first sign the company is drilling towards a resource estimate rather than just chasing extensions.
27 Mar 2012drilling result▲ GoodMajor
The northeast extension improved sharply, with TU-12-103 returning 17.00 metres at 3.74 g/t gold and 67.4 g/t silver - the company says the best grades yet from that zone, two weeks after a hole there ran 0.14 g/t. Ten holes reported in all across the main, southeast and northeast zones.
7 Mar 2012drilling result▲ Good
Four holes reported: TU-11-88 in the main zone gave 75.07 metres at 0.87 g/t gold and 59.5 g/t silver including 7.73 metres at 3.93 g/t gold and 249.5 g/t silver. The two holes testing the northeast extension were much weaker - TU-11-93 returned 43.50 metres at only 0.14 g/t gold - so the good grades remain concentrated in the main zone.
24 Jan 2012drilling result▲ GoodMajor
The last of the 2011 Ixtaca holes, headlined by 163.45 metres at 1.27 g/t gold and 61.6 g/t silver including 8.00 metres at 9.82 g/t gold and 492.8 g/t silver. A separate hole south of the main zone, TU-11-92, hit 5.57 metres at 1.05 g/t gold before being lost, and that partial intercept is what the company is calling a new Ixtaca South zone.
22 Dec 2011drilling progress report● Neutral
Year-end review of everything outside Tuligtic, where 86 holes for 31,016.64 metres were drilled at Ixtaca during 2011. The rest of the portfolio saw only surface work, including 671 soil samples at the BP project on Nevada's Carlin trend returning gold up to 34.9 parts per billion - encouraging geochemistry, but nothing drilled.
16 Dec 2011drilling result▲ GoodMajor
Seven more Ixtaca holes, led by TU-11-72 at 224.00 metres of 0.95 g/t gold and 57.5 g/t silver, including 28.96 metres at 2.44 g/t gold and 103.1 g/t silver. TU-11-74 stepped southwest and stayed in mineralisation, so the zone is still open in that direction.
30 Nov 2011drilling progress report● Neutral
Started a Titan 24 deep-imaging geophysical survey over the wholly owned El Cobre copper-gold porphyry project in Veracruz, where past drilling had traced mineralisation over four kilometres of strike; the survey also covers the never-drilled Villa Rica zone. Intended to lay out a drill programme for early 2012, so El Cobre is second in line behind Ixtaca.
23 Nov 2011drilling result▲ GoodMajor
Five holes into the main Ixtaca zone at Tuligtic, Mexico, with four rigs turning: TU-11-67 returned 120.70 metres at 1.02 g/t gold and 72.6 g/t silver, including 21.95 metres at 2.75 g/t gold and 210.1 g/t silver. Wide, continuous vein mineralisation with high-grade cores rather than a narrow one-hole hit.
