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MAG Silver Corp. announced additional gold and molybdenum assay results from on-going drilling (32 diamond drill holes) of the Pozo Seco moly-gold discovery on its 100% owned Cinco de Mayo property in northern Chihuahua State, Mexico. Results reported here include the thickest intercept to date of significant molybdenum mineralization.
Starting at 2 metres depth, Hole CM10-221 has cut the thickest molybdenum intercept to date on the property: 278.42 metres (913.45 feet) of 0.052% molybdenum (Mo) with 0.10 grams per ton (g/t) gold; including several high-grade zones such as 34.06 metres (111.7 feet) (115.29 to 149.35 metres depth) grading 0.158% moly with 0.21 g/t gold. Four additional holes in this area (CM10-144, 182, 208 and 211: see press release of March 26, 2010 and Table 1 below) indicate that mineralization in this "Northwest Prime" zone is thickening, extending deeper and moving farther west than previously thought. This may indicate that a major mineralizing fluid zone has been encountered. Drilling in this area has been stepped up to explore for the root of the system. Pozo Seco not only represents a moly deposit target in its own right, but also represents an important indicator of nearby significant lead-zinc-silver mineralization typical of the Carbonate Replacement Deposits (CRDs) in this part of Mexico.
Diamond drilling on one hundred metre centres within the Pozo Seco Prime Zone also includes some of the thickest and highest grade intercepts seen there to date as shown by Hole CM10-217 which assayed 0.264% molybdenum over 80.3 metres (263.4 feet).
"The results from this round of drilling clearly demonstrate width and continuity within the Pozo Seco Prime discovery zone with holes consistently showing grades higher than many of the world's major molybdenum mines", said MAG CEO, Dan MacInnis. "It is also clear that the moly zone is thickening, deepening and swinging to the west, perhaps directing us towards the system's source. These are exciting exploration developments given both the fact that the moly mineralization remains open in several directions and that our exploration model suggests that such extensive molybdenum mineralization may indicate that a large silver-lead-zinc skarn-replacement system lies nearby."