Gold Mineralization at Maíz Azul Remains Open in all Directions
Ranchero Gold Corp. (TSX.V:RNCH) is pleased to announce the first set of assay results from its inaugural drill program at the highly prospective Maíz Azul target, which is part of its 100%-owned Santa Daniela gold project located in Sonora, Mexico.
Highlights of the Drill Results:
Maíz Azul is the Company’s most advanced prospect at the Santa Daniela gold project which consists of a land package in excess of 22,300 hectares. Maíz Azul is currently comprised of three drill targets: 1) La Colmena; 2) La Cascada; and 3) X Structure (Figure 1). The three drill holes reported in this news release tested the La Colmena target and all of them intersected gold mineralization.
Bill Pincus, Chief Executive Officer of Ranchero, stated: “By any measure, this is a tremendous start to our inaugural drill campaign at Santa Daniela. The intersection of 4.00 g/t gold over 31.5 meters (drill hole MA 21-10) provides us with confirmation that there is in fact significant gold mineralization within our large land concession which exceeds 22,300 hectares. Our technical team began its exploration program in 2020 and the excellent results today are a product of all the hard work put in by our incredible team of talented individuals. We have learned a lot, but there still remains a significant amount of exploration potential that we must continue to unlock at Santa Daniela. With the resumption of drilling in 2022, we anticipate that we will be announcing subsequent drill results in the near future.”
Current Drill Program at Maíz Azul
Drill Hole MA 21-10 which intersected 4.00 g/t gold over 31.5 meters confirms and expands on the historical drilling completed at Maíz Azul (which included 1.56 g/t gold over 37.0 meters). Drill hole MA 21-11 which intersected 1.08 g/t gold over 21.00 meters extends this mineralization approximately 150 meters down dip from surface and remains open at depth (Figure 2).
Drill hole MA 21-12 effectively extends the mineralization approximately 150 meters eastward at La Colmena. While gold mineralization was encountered in this hole, surface mapping indicates that much of it may be offset by faulting. Ranchero is currently testing to confirm that gold mineralization extends towards the east.
The work to date confirms Ranchero’s geologic modelling that Maíz Azul is an epithermal gold system as is evidenced by the widespread low-temperature alteration halo, broad areas of gold mineralization, structural control on the placement of mineralization, and the presence of hydrothermal breccias with high grade intercepts. Additionally, the Company is developing a basic understanding of the secondary control structures that seem to play a key role on concentrating gold mineralization.
Results and analysis are pending for drill hole samples testing the La Cascada target as well as expanding known mineralization at La Colmena. The final holes of the 3000-meter drill program will focus on extending the La Colmena zone eastward, testing its continuity along strike and getting a greater understanding of secondary structural control on mineralization.
Figure 1: Drill Hole Location Map at Maíz Azul is available at
Figure 2: Cross Section for Drill Holes MA-21-10 and MA-21-11 is available at
Table 1: Drill Hole Interval Table
Regional Exploration Program
The Company also has an effort focused on reconnaissance exploration work outside of the Maíz Azul area. The current activity at Maíz Azul covers approximately 5% of the land package at Santa Daniela. The Company, working with Goldspot Discoveries, is using machine learning technologies to further focus on new reconnaissance targets. Ranchero will continue with follow-up site visits on all targets generated by the 2020 interpretation of Landsat and Aster satellite imagery together with the emerging Goldspot interpretation.
Scientific and technical information in this news release has been reviewed and approved by William Pincus, C.P.G., who is a “qualified person” as defined by NI 43-101.
About Ranchero Gold
Ranchero is a gold exploration and development company currently focused on its 100%-owned Santa Daniela project located in Sonora, Mexico. The Santa Daniela project consist of a large land package in excess of 22,300 hectares within Mexico’s Sierra Madre Occidental – a newly emerging gold belt. The Santa Daniela project is also near a number of major gold mining operations in the region. Maíz Azul is the Company’s most advanced prospect where a drill program is underway.
Equity Metals Corporation (TSX-V: EQTY) reports thick intercepts ... READ MORE
Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) is pleased to... READ MORE
Sitka Gold Corp. (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased... READ MORE
Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQB:APAAF) (Ge... READ MORE
Starr Peak Mining Ltd. (TSX-V: STE) (OTCQX: STRPF) is pleased ... READ MORE
We acknowledge the [financial] support of the Government of Canada.