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Market: TSX
Sector: General Mining - Gold
EPIC: XG
Latest Price: C$3.44  (16.61% Ascending)
52-week High: C$14.57
52-week Low: C$2.27
Market Cap: C$333.40M
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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
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Extorre completes resource drilling for Cerro Morro, further defines Zoe discovery

12th Sep 2011, 8:19 pm by Brad Lemaire

Extorre Gold Mines (TSE:XG) (AMEX:XG) released the results Monday of infill resource drilling at its wholly-owned Cerro Moro property in southern Argentina, further defining the Zoe discovery on the property.

A new resource estimate for Cerro is expected for release in October, and will include results from discoveries at the Martina, Carla, Esperanza-Nini, and Zoe zones, the company said. Drilling to complete the estimate has now been completed.

Recent assays from the 109 holes completed to date at the Zoe structure include 2.0 metres grading 13.0 grams per tonne (g/t) gold and 457.6 g/t silver in hole MD1300, including 0.31 metres of 80.3 g/t gold and 2,566 g/t silver.

Hole MD1304 returned 2.39 metres grading 6.8 g/t gold and 1,622 g/t silver, including 0.58 metres at 17.0 g/t gold and 4,255 g/t silver.

Meanwhile, assays from hole MD1315, also on the Zoe formation, returned 0.75 metres at 32.0 g/t gold and 1,605 g/t silver, including 0.45 metres at 52.7 g/t gold and 2,624 g/t silver, while hole MD1317 found 18.6 g/t gold and 198 g/t silver over 5.2 metres, including 1.36 metres grading 68.7 g/t gold and 601 g/t silver.

Results from an additional 34 holes are currently in the core cutting stage of processing, Extorre said, and are expected for completion in October.

Exploration manager, Matt Williams commented: "Drilling during the last two months has concentrated on extensions and infill at Zoe in preparation for the revised resource statement.

"Although the Zoe structure was intersected in the majority of the holes the intercepts are interpreted to potentially be above the high grade zone portion of the system."

Five drill rigs will now remain at the Cerro Moro property, three of which will continue drilling at the Zoe zone, testing the deeper targets of the area and the eastern extensions.

As of April last year, Cerro Moro was estimated to have 662,440 ounces of gold equivalent in the indicated category, as well as inferred resources of 430,880 ounces of gold equivalent.

Aside from Cerro Moro, Extorre’s assets comprise of the Puntudo and Don Sixto projects, and other mineral exploration properties in Argentina.

Since listing on the Toronto Stock Exchange in May, the company's stock has risen over 11%. Inactive in morning trading, Extorre closed on Friday at $10.59.

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