BUSY337 was drilled in western La Estera (Figure 1) to test for extensions of vein families into this area. After intersecting the La Estrella vein package (from 566 metres down-hole, 1.24 metres @ 3.4 g/t gold and 131 g/t silver (elevation of 1,373 metres)), BUSY337 intersected a base metal-poor vein package, interpreted to represent westerly and vertical extensions of the Laurel vein family. Significant intercepts include:
-- 0.4 metres @ 12.9 g/t gold and 32 g/t silver (elevation of 1,014 metres);-- 0.4 metres @ 23 g/t gold and 53 g/t silver (elevation of 992 metres); and-- 1.25 metres @ 5.7 g/t gold and 17 g/t silver (elevation of 957 metres).
Further down-hole to the north, BUSY337 intersected a vein family which may represent deep extensions (at elevations between 590-513 metres, Table II) of the Veta Sur vein system, 200 metres southwest of the current Veta Sur mineral resource envelope.
Some 600 metres further to the northeast of BUSY337, drill-hole BUSY342 intersected a broad zone of base metal-rich veining, interpreted as the Laurel vein family, including:
-- 3.5 metres @ 13.3 g/t gold, 181 g/t silver and 5.3% zinc, including 1 metre @ 21.3 g/t gold, 362 g/t silver and 8.2% zinc (elevation of 1,753 metres).
Further down-hole, BUSY342 intersected veins that may represent extensions of the La Estrella vein family, 600 metres east of intercepts in BUSY337. Significant intercepts include:
-- 0.5 metres @ 7.5 g/t gold, 18 g/t silver and 2.6% zinc (elevation of 937 metres).
Further to the south, BUSY342 intersected a family of veins, the most southerly yet encountered in the La Estera area, with significant intercepts including:
-- 0.55 metres @ 16.2 g/t gold and 23 g/t silver (elevation of 596 metres).
Assays were also received for deeper parts of BUSY338 (see April 3, 2013 news release). An intersection (1.31 metres @ 3.1 g/t gold, 27 g/t silver and 3.9% zinc), from 696.89 metres down-hole, appears to represent a newly-discovered vein under a precious metal soil anomaly. A deeper intercept (from 1,038.6 metres down-hole, 0.42 metres @ 1.9 g/t gold, 38 g/t silver and 16.3% zinc) may indicate continuity of the La Estrella vein system between BUSY337 and BUSY342.
Revised 2013 Drill Program
The Company has revised its previous exploration guidance as part of efforts to reflect conservatism in the current challenging metals-price environment. The calendar 2013 drill program has been reduced from 95,000 metres to 62,000 metres as follows:
Yaragua - 25,000 metres (ongoing for balance of 2013) Veta Sur - 20,000 metres (ongoing for balance of 2013) La Estera - 9,000 metres (largely completed; additional assays outstanding) San Agustin - 4,000 metres (ongoing for balance of 2013) Pinguro/Obispo - 4,000 metres (subject to receipt of required water permits for drilling)
Vic Wall, PhD, special advisor to the Company and a qualified person for the purpose of NI 43-101, has prepared or supervised the preparation of, or approved, as applicable, the technical information contained in this press release. Dr. Wall is a geologist with over 35 years of experience in the minerals mining, consulting, exploration and research industries. Following a career in Australian and North American academes, he held senior positions in a number of multinational major and junior minerals companies. A Fellow of the Australian Institute of Geoscientists, Dr. Wall is Principal of Vic Wall & Associates, a Brisbane-based consultancy that provides geoscientific services to mineral companies and government agencies, worldwide.