Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) released promising news Monday that it has reported more channel sample results from its Tahuehueto project in Mexico, a 1,000 tonne per day gold mine, which is currently being developed.
Channel sampling results received to date within a portion of this development included highlight assays of 12.55 g/t (grams per tonne) gold over a width of 1.7 meters (m) and another assay of 7.87 g/t gold over 2.7m.
"Ongoing sampling during underground development continues to return results that verify the reserves and resources within the geological model and demonstrate the high quality of the gold mineralizing system at Tahuehueto," the company noted in a statement.
Other assays included 7.28 g/t gold over 3.45 metres and 8.25 g/t over 2.60 metres.
Telson's 100%-owned Tahuehueto project consists of 28 mining concessions grouped into five blocks that total approximately 7,492 hectares. The project itself is in a particularly promising location: within the prolific Sierra Madre mineral belt, the host of most of Mexico's active exploration and development project, along with many of its historic mines.
Telson’s wholly-owned Tahuehueto project is currently in construction. Tahuehueto pre-production kicked off in August 2017 at a rate averaging approximately 100 tonness per day and shipping ore to a third-party toll mill for processing.
The company aims to be in full production with its own on-site mineral processing plant by the end of 2019.
Shares of Telson were at C$0.38 on Monday.
Contact Katie Lewis at [email protected]