Proactiveinvestors recommends
Additional Information
Market: TSX
Sector: General Mining - Gold
EPIC: XG
Latest Price: C$2.95  (0,00%)
52-week High: C$14.57
52-week Low: C$2.27
Market Cap: C$285.91M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Extorre Gold Mines
www.extorre.com

Extorre Gold Mines is an emerging gold & silver producer in Argentina, which is listed under the symbol XG on the Toronto Stock Exchange (TSX) and the NYSE-AMEX Exchange. The cash position on November 1, 2011, is $35 million. Cerro Moro is Extorre's flagship gold-silver property located in mining friendly Santa Cruz Province.

 

Full Extorre Gold Mines profile here
Is XG a Buy, Sell or Hold?Get your FREE analysis of XG
Pdf

Martina, Gabriela, Esperanza Veins Deliver More Positive Results for Extorre Gold

8th Feb 2011, 9:41 am

Ongoing drilling at Extorre Gold Mines  (TSX: XG, OTCQX: EXGMF) Cerro Moro Project in Santa Cruz Province, Argentina continues to reap dividends for the company.


This morning the company reported on the final eleven holes drilled in 2010, confirming high grade and bonanza gold intersections from the Esperanza, Gabriela and Martina veins.


Among the most noteworthy intersects were 1.9 meters averaging 12.2 grams per tonne gold and 1,079 grams per tonne silver in drill hole MD1126 which was cut into the Esperanza Vein. 

Another hole, MD1127, drilled into the Martina Vein, returned 0.85 meters averaging an impressive 310 grams per tonne gold and 5,295 grams per tonne silver. 

The highlight from the Gabriela Vein was MD1052 which returned 4.46 meters averaging 10.3 grams per tonne gold and 1,440 grams per tonne silver, and included a bonanza intersect of 1.13 meters averaging 36.8 grams per tonne gold and 5,295 grams per tonne silver.


Eric Roth, Extorre’s President and CEO reported that the company has also kicked off a new, 100,000 meter drilling compaign to test for mineralization along strike and at depth the many veins under exploration.   Four rigs are now operating around the clock.


Roth also confirmed that a resource estimate for Martina, Gabriela and Esperanza would be deferred until the third quarter to accommodate additional drill results, but a pre-feasibility study on Cerro Morro was due to be completed by June.


"The latest Esperanza assays provide solid support for the presence of additional near surface gold-silver mineralization on the vein, particularly to the northwest of earlier drilling,” Roth continued.


“Given the new results we have deferred in-fill drilling of the vein until we have more thoroughly evaluated the +2 kilometre long strike of the vein structure. Follow up drilling will also focus on testing the vein below 80 metres.”


Extorre has already defined an indicated resource of 357,000 ounces of gold and 15.3 million ounces of silver at Cerro Moro, with an additional 190,000 ounces of gold and 12 million ounces of silver in the inferred category.


A Preliminary Economic Assessment (PEA) in October 2010 suggested the potential to develop a low cost gold mine producing 133,500 gold equivalent ounces per annum for the first five years.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.