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Patagonia Gold pleased with latest drilling results from San Jose

Wed, 13th Feb 2019 10:38

(Sharecast News) - South America-focussed gold and silver mining company Patagonia Gold released the first drill results from its San Jose Project in Uruguay on Wednesday, in which a total of seven holes were drilled.The AIM-traded firm said the programme comprised five reverse circulation (RC) and two diamond drill (DD) holes, for a total 882 metre drill programme, which was completed in December.It confirmed that all seven holes cut gold mineralisation, with the best intercept being 4.55 m at 4.7 grams per tonne of gold, including 0.7 m at 27.6 g/t gold, in hole DWDD-010.The company said the mineralised structure was open for expansion along strike along the north-south direction and depth.Patagonia explained that the Dream Walker prospect, previously named Carreta Quemada, was located within the east-west trending San Jose Greenstone Belt of early Proterozoic-age in Uruguay.It said it comprised greenschist to lower amphibolite facies metasediments and metavolcanics, with frequent, large granitic-granodioritic intrusives.The geological setting appeared "typical" of the terranes that hosted some of the world's most prolific Orogenic Gold Belts, the company claimed, such as those of the same age in the West Africa Craton, which hosted many multi-million ounce deposits.The project is located on a strong north west-striking regional-scale shear zone - the 'Carreta Quemada Shear Zone'.Patagonia said field observations and aeromagnetic data indicated a several kilometre wide, diffuse zone of north west-south east oriented lineaments and structures.First pass drilling results from the 2018 exploration campaign, carried out at the Dream Walker Project, confirmed the existence of a north-south trending, mineralised structure which could be traced for at least 300 metres, and remained open for expansion on strike and at depth, the board added."The results obtained from this maiden but limited drill campaign are encouraging and we are currently reviewing our next steps to evaluate the gold potential of this exciting, new occurrence," said Patagonia Gold chief executive officer Christopher van Tienhoven.
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10 Sep 2012 10:53

Patagonia Gold gets uplift to Cap-Oeste estimate

Patagonia Gold has announced a 24 per cent increase in the indicated resource at its Cap-Oeste Gold-Silver project in the Santa Cruz province of Argentina. The total "gold equivalent" ounces within the indicated category, is now at 1.197m ounces, an increase of 230,000 ounces. The grade estimate h

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5 Jul 2012 10:21

Patagonia Gold to test new high grade discovery

Patagonia Gold is planning to test the down dip extension of the recently discovered zone of high grade mineralisation in the Cap-Oeste South East (COSE) project in Santa Cruz province, Argentina. The most recent drill results from the COSE gold and silver deposit include 2.30 metres at 16.35 gram

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28 Jun 2012 16:22

Kofax director earns over a million shares

William Comfort, a Non-Executive Director of Kofax, a provider of capture driven process automation solutions, has received over a million shares in the company in exchange for the redemption of his interest in Conversion Capital Master. Comfort received a consideration of just over 1.1m shares, va

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6 Jun 2012 14:42

Resources round-up: Stratex, Valiant Petroleum, Patagonia Gold

Valiant Petroleum has terminated its contract with Awilco Drilling, following technical downtime, which occurred as a result of the suspension of drilling operations on the Timon exploration well in the UK North Sea, in which Valiant holds a 10 per cent stake. The well has been suspended for re-entr

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30 May 2012 12:37

Resources round-up: Thor, Patagonia Gold, Amerisur ...

Oil and gas producer Amerisur Resources has logged, cased and cemented the Platanillo-3 well in Colombia, the first of a six-well drill programme. Testing equipment has been mobilised and will shortly begin production tests. The reservoir sections encountered in the well are currently being studied

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7 Mar 2012 16:07

Patagonia Gold CEO adds to share pile

William Humphries, Chief Executive Officer of Patagonia Gold, the Argentina-focused mining firm, has purchased 300,000 shares in the firm. The director bought the shares at an average price of 35.67p for a total of £107,010, taking his total stake in the company to 15,393,857 shares, representing a

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5 Jan 2012 14:35

Patagonia acquires land surface rights

Patagonia Gold has acquired the remaining land surface rights of its main gold and silver project through its wholly-owned subsidiary Minera Minamalu. The area, which is known as El Tranquilo and covers 80 square kilometres in the Santa Cruz Province of Argentina, was purchased for £2.1m. El Tr

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8 Sep 2011 09:30

Patagonia Gold completes Cap-Oeste extension

Patagonia Gold, the Argentina focused mining firm, says the extension to its Cap-Oeste project is now complete with gold and silver found in a newly discovered zone. Normal drilling operations on the deposit are also ongoing and the company says the area remains "open along strike in both direction

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9 May 2011 11:28

Patagonia Gold moves closer to production

Patagonia Gold said it is closer to becoming a gold producer after another year of strong exploration activity in the year to 31 December. Losses attributable to shareholders were flat at £7.3m. "Santa Cruz Province is a very active mining region and other companies operating there are also showin

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26 Jan 2011 11:34

Small caps round-up: Patagonia Gold, Charles Stanley, Jubilee Platinum...

Patagonia Gold has risen on news that final results from the recently completed drill campaign on the COSE project in Argentina have revealed more "exceptionally high grade" gold and silver. A potential new mineralised vein has also been discovered at Cap-Oeste with drill-hole CO-166-D which inters

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10 Nov 2010 16:31

Mining round-up: Discovery Metals, Patagonia Gold, Karelian ...

Shares in Discovery Metals picked up at it reported a successful drill test of the newly discovered Ophion exploration target, located 40 km southwest of the Zeta deposit at the Boseto Copper Project. Initial results confirmed that Ophion is mineralised at depth, Discovery said, with follow-up dri

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3 Nov 2010 12:38

Small caps: Kedco, Tangent, Patagonia Gold...

Biomass power group Kedco has agreed a £9.9m project finance facility with Ulster Bank Group, a subsidiary of the Royal Bank of Scotland, to provide secured debt facilities for its biomass electricity and heat generating plant in Newry, Northern Ireland. The facilities comprise a term loan as well a

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29 Sep 2010 15:26

Patagonia Gold's losses narrow

Argentinian precious metals explorer Patagonia Gold said interim losses were in line with expectations and reflected the high level of exploration activity that has taken place on its portfolio of Santa Cruz properties. The half-year pre-tax loss narrowed to £3.70m from £4.36m in the first half of

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27 Jul 2010 07:43

Patagonia Gold Buys Estancia El Rincon Gold Prospect

LONDON (Dow Jones)--Patagonia Gold PLC (PGD.LN) said Tuesday that through its subsidiary Patagonia Gold SA it has purchased the Estancia El Rincon of total area 6700 hectares, containing the Lomada de Leiva Heap leach gold project together with other highly prospective gold areas. MAIN FACTS:

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16 Jun 2010 07:22

Patagonia Gold High Grade Main shoot At Cap-Oeste Continues

LONDON (Dow Jones)--Patagonia Gold PLC (PGD.LN), said Wednesday that it has had high grade Main shoot at Cap-Oeste continues at depth with drill-hole CO-162-D intersecting 7.70 meters at 26.07 grams per tonne gold and 1,322 grams per tonne silver from 353.3 meters. MAIN FACTS: -Drilling on t

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