What's Happening?
Questcorp Mining Inc. has commenced its maiden drilling program at the La Union Gold & Silver Project in northwest Sonora, Mexico. The project, operated by Riverside Resources Inc., aims to expand known zones of mineralization and test new targets within the 25 km² area. The initial drill program will consist of over 1,500 meters of diamond core drilling across six holes, each averaging 250 meters in depth. The focus is on carbonate-hosted replacement deposit (CRD) style mineralization, with gold associated with mantos, chimneys, and structural zones. This marks the first drilling ever conducted on most of the targets, despite past mining activities. Questcorp has entered into a definitive option agreement with Riverside to acquire a 100% interest in the project, with an initial exploration program funded by Questcorp.
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Why It's Important?
The commencement of drilling at the La Union Project represents a significant step in the exploration of one of Mexico's historic gold-producing areas. The project has the potential to uncover substantial mineral deposits, which could lead to economic benefits for both Questcorp and Riverside Resources. The exploration targets include both oxide and deeper sulfide mineralization, offering the possibility of large-scale discoveries. Successful drilling could enhance the project's value and attract further investment, contributing to the mining industry's growth in the region. Additionally, the collaboration between Questcorp and Riverside aligns their interests in the project's success, potentially leading to more efficient exploration and development processes.
What's Next?
The initial drilling phase will focus on evaluating the scale of alteration and indications of a mineralized system. Follow-up drilling is planned based on initial results, which will help verify the stratigraphy, lithologies, and structural features for improved modeling and next-stage discovery targeting. The project is positioned for near-term exploration success, with immediate drill targets offering the potential for significant-scale discoveries. As exploration progresses, Questcorp and Riverside will continue to assess the project's viability and potential for expansion, with the possibility of further investment and development in the future.
