Pan American Goldfields Ltd.(OTCQB:MXOM) announced the filing of a NI 43-101 technical report with SEDAR for its Cerro Delta project. The report was prepared for Pan American by Gustavson Associates. The Company plan to continue exploration at the Cerro Delta project up until April 2012.
As quoted in the press release:
The technical report prepared by Gustavson Associates summarizes the Cerro Delta project as follows: PAG’s Cerro Delta Project is an early stage exploration project with potential to discover porphyry gold (copper) deposits at depth. This conclusion is based on the location of the Cerro Delta Project in the Maricunga Gold Belt of Chile and Argentina, combined with the results of previous investigators geologic mapping, rock chip sampling, soil sampling and geophysical surveys. The geophysical surveys identified potential drilling targets at depths in the range of 150 to 500m. Furthermore, there are strong indications that other targets representing structurally-controlled epithermal exist on the Cerro Delta prospect.