Patagonia Gold cheers exceptional gold and silver grades at Cap-Oeste
01 December 2009
Argentine based mining group Patagonia Gold has unearthed some exceptionally high grade gold and silver at its Cap-Oeste South East (COSE) prospect, which lies 2km along strike from the Cap-Oeste gold and silver resource.
Among the highlights, drill hole CSE-13 intersected 4.10 metres at 561.6 grams per ton of gold and 28,523.0 grams per ton of silver. Within those results was 0.85 metres at 2,104.6 grams per ton of gold and 107,648.0 grams per ton of silver
Drilling has now restarted at the COSE prospect with a short programme designed to validate and infill the exceptionally high grade 'bonanza' intersection in drill hole CSE-13. Drilling will also target the zone further to the north-west along strike towards the Cap-Oeste resource area.
The Cap-Oeste gold and silver deposit lies within Patagonia’s 60 sq km El Tranquilo property, together with the Vetas Norte and Breccia Valentina structural trends. Independent studies have already delineated a combined total of 655,932 ounces of gold equivalent on the site but earlier this year further survey work identified the COSE prospect.
Patagonia’s managing director, Bill Humphries, said: “Once again, the sound methods and systematic approach to exploration by our highly skilled geological team has led to the discovery of another exciting high grade shoot on the Cap-Oeste Bonanza Fault structure.”
Yesterday, Patagonia noted that new legislation had been passed in the Santa Cruz province of Argentina that will create an "Area of Special Interest for Mining". Its Lomada de Leiva, Cap Oeste and La Manchuria projects are all located within the new area.
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