First Mexican Gold Corp. TSX-V : FMG CA$0.03 ▲0.03 (0.00%)
CVE:FMG

First Mexican Gold Corp. TSX-V : FMG

Company ID [CVE:FMG] Last trade:CA$0.03 Trade time:16:00:00 EST Value change:▼0.03 (0%)

Karen Zone

The Karen zone was discovered in a road cut adjacent to historic workings on the Hilda 30 concession.

In the summer of 2009 diamond drill hole HDH-09-03 at the Karen zone encountered strong mineralization from surface thru to a depth of 40 meters.  An intercept from approx. 12 to 29 meters depth averaged +10 ppm Au and +1400 ppm Ag (and hence the decision by Senior Management to take the Company Public in Q4-09). 

The Karen zone was the Primary Target zone of the asset used to value the transaction:
-+$1.35 million in audited exploration expenses;
Valuation of the $2.165 million offering at $0.35 per share.

During 2010 extensive surface sampling and mapping were conducted in and around the Karen zone during 2010 in preparation for further drill testing.  Immediately upon becoming a (funded) public company early in January 2011, a drilling program was deployed that contemplated 5 additional holes to further test management’s ideas of the structure’s orientation along this contact zone.  Only 3 of the 5 holes intercepted mineralization.

A 3D IP (Induced Polarization) survey has since been carried to acquire both resistivity and chargeability data to enhance targeting of next holes.  Of which the next 3 to 5 are expected to be carried out during this second phase of the 2011 drilling campaign.

 

 

 

Gallery

Diamond Drilling at Karen Zone Jan-11

RC Drilling on Karen Zone

Samples - Karen Zone

Phase 1 Road Construction on Karen Zone

Karen Zone Exposed on Road Cut 12-10

Brecciated Quartz - Karen Zone

Choose your Language

English German Spanish