Pediment Exploration

Mexico: La Colorada, Sonora - San Antonio project, Baja California Sur.

Free
Message: Exploration updte

Exploration updte

posted on Apr 09, 2008 07:08AM
Pediment Exploration Ltd. (PEZ.V - PEZFF OTCBB) is pleased to provide the following update for its exploration programs in north western Mexico. The company continues to drill test the near surface, oxidized portions of both the Los Planes and Las Colinas zones within its 100%-owned San Antonio project in Baja Sur. Samples are being selected for preliminary metallurgical testing of these zones, and data is being compiled for completion of an independent review and NI 43-101 compliant report. Targeting work is continuing north along trend from the Los Planes and Las Colinas resource areas. Pediment's San Antonio concession protects twelve kilometres of trend length of which only two kilometres has been drill tested.

The company has received gold assays for the first drill hole testing the Fandango target located west of the Planes-Colinas main trend within the San Antonio project. Despite long intersections of sulphide mineralization indicated by logging, gold values were weak. Several other holes have been completed within this large anomaly and information gained from this drilling will aid in targeting elsewhere in the trend. Significant results from additional Fandango holes, if any, will be reported when received.

Recent results from testing the western and southern extensions of the Los Planes zone indicate extensions of the system, at lower gold grades. These included drill holes PLRC 80 and 81 to the south that located significant intersections of sulphide mineralization, but that did not return significant gold results. The company considers the strike extent between these holes and Las Colinas zone to the south open for possible expansion of the mineralization and will test this area as part of its on-going drill programs.

Drill results from Los Planes zone, San Antonio project, Baja California Sur

Drill Hole

From (metres)

To (metres)

Length

Grade

07PLRC-78

336.52

344.14

7.62

0.51

 

 

 

 

 

08PLRC-79

89.00

140.82

51.82

0.45

 

 

 

 

 

08PLRC-82

153.01

159.11

6.10

0.62

and

210.92

236.84

25.92

0.75

 

 

 

 

 

08PLRC-83

189.59

212.45

22.86

0.53

and

223.11

236.84

13.73

1.25


All results have now been received from drill testing at the Daniel project located northwest of Caborca in Sonora State. A total of twenty eight reverse circulation drill holes were completed that tested four target areas and included sections below the contact with overlying andesitic volcanic layer. The best result, from the Coronela-showings area, was 3.1 meters of 2.3 g/t gold. A number of holes returned broad sections of low gold grades, but only three of the holes returned +1 g/t results. The company considers these results below its current threshold to move the project to a more advanced stage of testing at this time. There is scope for more work at Daniel, including initial drill testing of mineralized zones and targeting programs over the northern extension of the system that was staked by the company in late 2007, and the concessions will be maintained in good standing for possible future programs or joint venture.

Work continues at the La Colorada mine near Hermosillo in Sonora where the company is completing its review of historic data and conducting field work to establish new targets within these holdings. Pediment now has a complete geological team working at La Colorada. The site has been refurbished and tied into grid power so work can continue on site to complete the data review and exploration planning more efficiently.

Mel Herdrick, VP Exploration and Director, is a Qualified Person, as defined by NI 43-101 and has approved the information in the news release. Pediment is a well funded exploration company with plans to drill though out 2008 on both the Baja and other project in N W Mexico.
.
Share
New Message
Please login to post a reply