Friday, December 9, 2011

Extorre Gold Mines Has 4 Drills Turning In Argentina

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Marina Trasolini, VP Corporate Development for Extorre Gold Mines gives a brief update on Extorre's Cerro Moro project in Argentina, including the new Zoe discovery. Extorre is expecting to release a PFS in Q1 of 2012.

Cerro Moro is Extorre's flagship gold-silver property located in mining friendly Santa Cruz Province. The exploration priority is to expand the known mineral resources with an aggressive +100,000 metres drilling campaign. Six drill rigs have been operating continuously at Cerro Moro. As of November, 2011 the Company will reduce to four drill rigs, with three rigs continuing to delineate the Zoe deposit and potential extensions. The Zoe structure has been tested for 2.2 kilometres of strike with significant mineralisation delineated over a 1.1 kilometre long zone. Low grade shallow holes will be followed up with deeper holes to test for high grade mineralised zones in the interval 150-250 metres below surface.

Much of a potential 4 kilometre long easterly strike length of the Zoe structure is covered by a veneer of younger (post mineralisation) volcanic rocks that have no geochemical signature. Detailed geophysics (ground magnetic and CSAMT surveys) are being completed by Extorre in this area in order to assist with prioritising drill targets in this area of "blind" mineralization.

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