Yesterday, Lone Star Gold Inc., a gold exploration and development company based in Albuquerque, New Mexico, announced that the first stage of drilling at the company’s La Candelaria Gold-Silver Project, based in Mexico, will begin on November 7, 2011. Lone Star has a 70 percent Working Interest in the project, made up of 1,976 acres of mining concessions located approximately 125 miles (200 km) southwest of the Chihuahua State, Mexico, the capital city.
The drilling program is based upon the analysis of new data from the Company’s own study of the La Candelaria asset, which was conducted to verify what was found during the property’s initial report. The study had included conducting layers of geo-chemical and geophysical analysis of the entire property, therefore significantly increasing the geophysical data for the Company. Amongst the findings was an assessment from a sediment study (results from ALS Chemex) that has isolated additional surface oddities in the gold-silver project’s southwest zone, which indicated additional area to pursue. Both pre-existing data and the Company’s new data (from approximately 150 Rock Chip, Outcrop, Quartz Vein and Sediment samples) were analyzed, mapped and processed in Lone Star’s Chihuahua regional satellite office, which also provided for a secure sample transfer location for delivery to the ALS Chemex regional office and processing plant.
Based upon the first stage drilling results, a second exploration and drilling stage is expected to begin in mid-January, 2011, which would include defining underground structures further in the most economical areas present on the property based upon previous drilling results with the goal to identify 3-5 deep hole targets created to reach depth of 600-700 meters (1,970-2,300 feet).
“We’re now in the position, both in terms of data and financing, to move forward with the next stage of clearly determining the full economic potential of our La Candelaria property,” commented Daniel Ferris, Lone Star Gold’s Company President. “And armed with the insight this first stage of drilling will provide, we’ll be that much closer to realizing this asset’s full mineral potential.”
Lone Star Gold, Inc. is a gold exploration and development company located in Albuquerque, New Mexico. The Company’s acquisition and exploration approach is focused on proven, stable precious metal regions in America and Mexico. Currently, Lone Star has a 70% Working Interest in the La Candelaria project in Chihuahua, Mexico. Lone Star also has the option to purchase a 70% interest in the Ocampo Project, a 570-hectare gold-silver project located in Chihuahua State, Mexico.
For more information on Lone Star Gold, visit www.lonestargold.com
Let us hear your thoughts below:
