TORONTO, ONTARIO--(Marketwire - Jan. 8, 2013) - Samco Gold Limited (TSX VENTURE:SGA) ("Samco Gold" or the "Company") is pleased to announce that it has made significant progress at its Corina project where the Cerro Cubilete prospect is now ready for preliminary drill testing.
The Company's intention to carry out geological mapping, additional sampling, hand-dug trenching, and a ground magnetic survey at its Cerro Cubilete silver prospect on the 5,000 hectare Corina Project in Santa Cruz province, Argentina, was announced in the previous release on September 4, 2012. This work has now been completed. As a result, the Company has a better understanding of the geological controls to the mineralization, and the prospect is now ready to be drill tested.
Cerro Cubilete lies within the Corina project (comprising the Corina, Corina 1 and Mercia tenements) held by Samco Gold, adjoining the Cerro Moro project owned by Yamana Gold (Figure 1). Cerro de la Mina, also shown on Figures 1, 2 and 4, is an adjacent area of small workings which expose minor barite and Mn oxide mineralization.