First Mexican Gold Corp.

NEW: now 100% interest in the Guadalupe Property in Sonora, Mexico (Jan. 2012) / Best intercept: 37.8 metres of 6.51 g/t Au, 678 g/t Ag

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Message: Re: shallow
2
Mar 10, 2011 01:28PM

pc: <<< Grades are low >>>

Yes, but that was expected, because the Diana zone is known as lower grade / high tonnage area.

As you said, very shallow mineralization = open-pitable.

The Karen zone is our high-grade AND shallow zone (at least on the Guadeloupe property, let´s see what the new additions might show).

Some parts of the NR were even more interesting:

<<< "The IP survey, soil/rock chip sampling and drilling show a high degree of correlation and continuity in the Dianna zone giving us confidence to move forward with more aggressive drilling in this zone," said Jim Voisin, President and Chief Executive Officer of First Mexican. Mr. Voisin adds: "The ongoing IP survey data will greatly assist in further delineating more aggressive drilling plans for the Karen and Bailey zones plus potentially the Linda/Luce zones.">>>

and

<<<" First Mexican has decided to mobilize a drill to the site and begin a tight spaced drill program on the Diana zone. P&E Engineering of Toronto will be responsible for QA-QC practices on this drill program which will begin prior to month end.">>>

and

<<<" Based on final IP survey data for all areas being surveyed, a second drill will be contracted and mobilized.">>>

Very aggressive, Jim, indeed.

And with the PP closing today, we have an additional $ 310.000 in the kitty.

FANTOMAS

1
Mar 10, 2011 05:10PM
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