Oceanus Resources Corp. headquartered in Halifax, indicated on Monday it has identified more than 10 kilometres of favorable gold mineralization in its old El Tigre Mine in Mexico.
The company stated it has plans to send an exploration team back to the property in 2019 to continue prospecting, mapping and sampling, with an objective of establishing drill targets.
“Since acquiring the El Tigre Property at the end of 2015, we have completed in excess of 12,000 metres of diamond drilling, generated a 43-101 mineral resource estimate containing indicated resources of 661,000 gold equivalent ounces and inferred resources of 341,000 gold equivalent ounces, and our experienced exploration team has identified several additional high-priority exploration targets,” Glenn Jessome, president and CEO of Oceanus, said in a statement.
“We believe that we have the makings of a district-scale system. We are still in the early days of unlocking the potential of the large land package we have at El Tigre and look forward to further exploration success in 2019,” he said in the company news release on Monday.