Cerro de Oro drilling to finish Q4

Toronto-based MacMillan Gold (TSX-V: MMG) aims to finish the current phase III drill program by first quarter next year on its Cerro de Oro gold-silver property in Mexico's Zacatecas state, the company announced Tuesday. The program consists of 15 to 20 reverse-circulation drillholes of up to 150m, the company said. The first four-to-five holes will test limestone along the Santa Rosa trend, the next four-to-five holes will expand mineralization along existing holes, and another eight to ten will target the Cerro de Oro valley. Phase III will then wrap up with four to six diamond drill holes and RC holes to further define mineralized zones. Macmillan has contracted Arizona-based Zonge Engineering and Research Organization to conduct induced polarization and magnetic surveys to "form the basis for the conclusion of the phase III drilling," it said. Phase II drilling returned 0.05g/t gold and 6.9g/t silver over 24.4m as well as 0.46g/t gold and 9.6g/t silver over 22.9m, which includes 1.14g/t gold and 23.5g/t silver over 3.1m, among other results. Also in Mexico, MacMillan owns the La Violetta, Tetasiari, Fiebre de Oro and El Soccorro properties.