UPDATE: Timmins Gold Corp Up 2.5%, Moves Closer To Yr Highs as Provides Mexico Update
Timmins Gold Corp. (TMM.TO) is up 2.5% and has moved closer to a year high $2.99 after announcing that additional mineralized zones were intercepted during the month of July, 2011 from the ongoing drill program at its San Francisco mine open pit gold mine in the state of Sonora, Mexico.
The company said during July it completed 95 drill holes totalling 20,103 meters of drilling. It said drill results have confirmed that the mineralized zones continue both beneath the currently planned pit bottom and outside the perimeter of the currently planned pit limit. A series of holes drilled on the south wall of the pit confirmed the up dip continuity of the mineralized zones recently intersected beneath the currently planned pit bottom. For example, Hole TF-1312 drilled on the south wall intersected several mineralized zones including 12.19 meters with a grade of 2.631 gpt gold.
Timmins said drilling at the La Chicharra open pit which is two kilometers from the San Francisco pit also intersected gold mineralization. Results from the La Chicharra drilling will be released shortly.
The Company is completing an aggressive 100,000 meter exploration program which commenced at the beginning of July, 2011 and is expected to be completed at the end of the calendar year.
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