Mercado Minerals (CSE: MERC) has completed the first drill program at its Copalito silver-gold project, a 25 hole campaign that expanded the property’s vein inventory rather than simply confirming it.
The program, covering holes COP-26-001 through COP-26-025, tested seven separate structures. It lifted the number of principal veins at Copalito from six to eight and stretched cumulative mapped strike length from eight kilometres to 11.
El Pilar emerged as the standout, now defined over 1,250 metres of strike with a higher-grade core measuring roughly 400 metres along strike by 200 metres down-dip. El Agua was traced over 950 metres, and 5 Señores was extended to about 800 metres of strike and 125 metres of vertical depth. All remain open.
Highlights from the program include:
- COP-26-012: 686 g/t silver equivalent (30 g/t silver, 1.94 g/t gold, 9.47% lead, 14.61% zinc) over 3.50 metres from a depth of 124.75 metres
- COP-26-019: 675 g/t silver equivalent (9 g/t silver, 5.37 g/t gold, 1.65% lead, 10.05% zinc) over 0.80 metres from a depth of 119.35 metres, within 403 g/t silver equivalent (11 g/t silver, 3.53 g/t gold, 1.45% lead, 4.41% zinc) over 3.40 metres
- COP-26-014: 434 g/t silver equivalent (340 g/t silver, 1.22 g/t gold, 0.34% lead, 1.18% zinc) over 7.60 metres from a depth of 26.20 metres
Running alongside the rigs was a surface effort combining drone LiDAR, drone magnetics, mapping, prospecting and soil geochemistry. It extended four known veins and identified two new ones, El Pilar Sur and Renata.
Renata is the more compelling of the pair. It carries 1,150 metres of strike, averages 1.90 metres wide, and returned samples grading up to 233 g/t silver, 0.52 g/t gold, 2.67% lead and 1.51% zinc. It has never been drilled.
“The goal of this program was to define productive segments of the known mineralized veins in drilling, to expand the extent of the known veins and the discovery of new veins at Copalito,” said Chief Executive Officer Daniel Rodriguez. “I believe we achieved that and we are extremely pleased with the results.”
Phase II will target expansion of the higher grade zones at El Agua and El Pilar, exploration drilling along newly extended vein trends, an initial test of Renata, and surface work following up unexplained soil anomalies in the project’s northwest.
Mercado Minerals last traded at $0.09 on the CSE.
