PEZ: Geared for Growth at La Colorada and San Antonio

CHRIS THOMPSON, Haywood Securities (01/19/2010)
"The company's La Colorada project was the primary focus of exploration and drilling last year, with an aggressive 8,000-metre RC and DC drilling program announced last May to evaluate areas of near-surface gold mineralization for open-pit heap-leach potential, in addition to exploring extensions of vein-type, higher-grade gold mineralization. Notable results from the program include 24.39 metres of 1.83 g/t gold from the Veta Madre Zone, and 4.57 metres of 36.33 g/t gold and 83.97 g/t silver targeting the La Verde Zone. A revised measured and Indicated resource of 19.25 Mt @ 0.978 g/t Au & 8.30 g/t Ag and Inferred resource of 20:07 Mt @ 0.903 g/t Au & 9.59 g/t Ag (at 0.30 g/t Au cut-off) was released in December.

At the San Antonio project, Pediment released an updated resource estimate outlining a global measured and Indicated resource of 1.53 Moz Au (47.3 Mt grading 1.01 g/t Au) and an Inferred resource of 111,000 oz Au (5.4 Mt grading 0.637 g/t Au).

Look for pending assays from eight to nine holes at Veta Madre from the 2009 program, an extensive 8,000m RC and DC drill program at San Antonio (targeting three zones and infill drilling around the existing deposit) to commence in March. The Company also plans a $1.5–$2M program at La Colorada, with the details to follow.

With a Mexican focus, a large treasury, and aggressive drill programs on San Antonio and La Colorada, Pediment is well-placed for growth through resource expansion and corporate development."

 PRINT THIS PAGE   EMAIL THIS PAGE

Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.

Related Quotes: