Significant underground sampling assays at Torrecillas

17 April 2007 | 07:35 Code : 13384 Geoscience events
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Mundo Minerals Limited has received further significant results from underground....

  Mundo Minerals Limited has received further significant results from underground channel sampling from within the existing small-scale underground mining operations at the Torrecillas Gold Project in Peru.The channel sampling was undertaken from the recently developed levels 10 and 12 of the mine as part of the final stage of geological assessment of Torrecillas Project prior to a final Mundo board decision on whether to exercise the option to acquire the project. The area from which sampling returned significant widths for the style of mineralisation and substantial grades had not previously been subject to any sampling by Mundo Minerals as these levels were only developed and access available to Mundo to conduct the sampling in the last couple of weeks.The widths are consistent with those generally experienced in the region and the grades confirm the significant nature of the mineralisation where it occurs along the vein system. The depth of level 12 is approximately 120m below the surface.Regional research indicates that the veins in the region where Torrecillas is located are mesothermal, indicating that the mineralisation tends to continue at depth, with some mines in the region being developed on a small production basis to depths in excess of 400m. Previous underground channel sampling within the main Torrecillas vein returned encouraging results, including grades up to 37.71g/t Au and 33.65g/t Au over 3m intervals.Mundo Minerals has an option to acquire 100 percent of the Torrecillas project by paying US$2m over two years in six monthly instalments.The board of Mundo Minerals will be making a decision on the acquisition of the Torrecillas Project by April 15, 2007, the due date of the option.

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