GOLD DEVELOPMENT – Exciting discovery at Campo Morado; Successful metallurgical results

MEXICO - The latest results from the drill program of Vancouver-based FARALLON RESOURCES LTD. at its Campo Morado p...
MEXICO - The latest results from the drill program of Vancouver-based FARALLON RESOURCES LTD. at its Campo Morado polymetallic (zinc, gold, silver, copper, lead) project in Guerrero State, show significant massive sulphide intersections have been made over a distance of 400 metres at G-9. This confirms the discovery of a new deposit and enhances the overall potential of the project.

Massive sulphides were intersected in five of the 45 recent exploration holes, with the largest cumulative intersection of massive sulphides 50 metres in length. The deposit remains open to the west, north and northeast. Among the best results was a 16.38-metre (true width) intersection in hole number 467 that graded 6.56 g/t Au, 545 g/t Ag, 1.38% Cu, 3.85% Pb and 6.69% Zn.

The company believes it is uncovering a series of deposits between the original Reforma discovery and the mined-out La Suriana deposit southwest of Campo Moradoa distance of 7.5 kilometres. Farallon's board of directors recently approved a new budget of $10.4 million that will enable it to complete the current drilling program and conclude a prefeasibility study by early 2006.

Farallon has also released the results of an extensive metallurgical test work program recently carried out on Campo Morado ore. This $2.1-million program was initiated to specifically address the metallurgical challenges that the project faced due to the finely disseminated nature of the mineralization of the various deposits. In addition, a "Proof of Principle" pilot plant program was conducted to validate, in continuous operating conditions, the selected hydrometallurgical flowsheet for the prefeasibility study.

The results have been very encouraging, and indicate that a partial oxidation, solvent extraction/electrowinning process for the selective removal of copper and zinc, followed by a standard cyanidation extraction process for gold and silver works extremely well on Campo Morado-type mineralization. As a result, Farallon has applied for, and been granted, a Trademark for the process (registered as "PARTOX").

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