TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) - Virgin Metals Inc. (TSX VENTURE:VGM) is pleased to announce the results of an airborne electromagnetic and magnetic survey of their 100% owned Cuatro Hermanos copper porphyry project in Sonora Mexico. This program has successfully identified new target zones on the property with the potential of significantly increasing currently published resource figures.
"With nearly 900 million pounds of indicated contained copper and another 2.1 billion inferred, Cuatro Hermanos represents a significant asset to the company", said Chris Frostad President and Chief Executive Officer of Virgin. "Our objective now is to carefully advance opportunities to improve the grade of the resource".
Highlights:
- The reported four zones of mineralization at Cuatro Hermanos were originally delineated through an induced polarization (IP) geophysical survey using the pole-dipole array, demonstrating the merit of this exploration tool moving forward;
- This most recent interpretation of the airborne survey successfully identified the four known zones and 11 new zones with similar signatures;
- To date only 20% of the known target zones have been drill tested.
The company is currently considering IP surveys for these new targets in order to clearly delineate these potential extensions of the Cuatro Hermanos resource. In addition, similar airborne surveys are being planned over the company's San Lorenzo and Los Verdes projects.
Cuatro Hermanos
The Cuatro Hermanos property is made up of 10 mining concessions totaling 8,125 hectares and is located in south east Sonora, just west of the Yaqui River which is located in the western flank of the Sierra Madre.
The property hosts a large Cu-Mo porphyry complex with multiple mineralized centers, and outstanding potential. Drilling during past years on one of the targets resulted in a NI 43-101 compliant indicated resource of 2.06 billon tonnes containing 896 million pounds of Cu (0.197% grade) and 95 million pounds of Mo (0.021% grade), along with an inferred resource of 557 million tonnes, containing 2,141 million pounds of Cu (0.174% grade) and 277 million pounds of Mo (0.022% grade). Virgin's San Lorenzo Cu-Mo project lies south-west of Cuatro Hermanos and is the site of future exploration work.
About Virgin Metals
Virgin Metals is a junior exploration and development company; its projects include two copper-molybdenum porphyry properties in Sonora, northern Mexico. One of these, Los Verdes, is currently the subject of a pre-feasibility study while the other, Cuatro Hermanos, is the focus of ongoing exploration efforts.
Roger Watson B.A.Sc, is the Qualified Person responsible for technical content of this release.
Contact Information: Virgin Metals Inc.
Chris Frostad
(416) 603-8368
www.virginmetals.com