Sierra Madre Discovers New Gold Zone
(via Thenewswire.ca)
New York, NY, May 25, 2012/Resource Newswire/ - Sierra Madre
Developments Inc. (TSX-V:SMG - "Sierra Madre" or the
"Company") and its partner Riverside Resources Inc.
("Riverside") (TSX-V: RRI) have discovered a new gold
anomaly ("Pinchanzo zone" or "Pinchanzo") less
than 2 km south of the El Capitan gold zone currently being drilled
(2,500 meter diamond core drill program) by Sierra Madre. This new
epithermal gold area called the Pinchanzo zone has initial surface
assay samples (21 samples) returning up to 2.38 g/t gold with 20
percent of the samples returning greater than 1 g/t gold. A follow up
mapping and sampling program is now underway.
The Pinchanzo zone may define a further mineralized gold system on the
350 km? Penoles Project located in northern Durango State, Mexico.
This newly defined area consists of abundant silicification,
chalcedonic quartz and similar volcanic sequences as seen at El
Capitan. Seventeen of the 21 samples returned values greater than 100
ppb Au and up to 2380 ppb gold. Samples are representative composite
rock chips of siliceous float material each collected from a 5 to 10
meter-diameter area. The Pinchanzo zone was identified by long time
prospector Mark Roden and is localized along the NE side of a north to
northwest trending low relief topographic feature. Abundant silica
float occurs within a distinctive 150 to 300 meter wide band over a
strike length in excess of one kilometer.
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The Editors of Mining Review Online, an online periodical that
provides news, updates and industry insights on undervalued and high
growth potential resource companies have stated: "We strongly
believe that the discovery of the Pinchanzo gold zone less than 2
kilometers outside the El Capitan discovery greatly enhances the value
of Sierra Madre. The samples taken to date are of much higher grade
than the results from El Capitan."
The full editorial on on Sierra Madre can be found at:
http://www.miningreview.net/sierra-madre.
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SOURCE: Resource Newswire
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