LONDON (Alliance News) - Hunter Resources PLC on Wednesday said it has secured some high-grade initial results from its exploration work on the recently acquired Prospero concessions in Peru.
Hunter acquired a 51% stake in the concessions at the start of July. The concessions form the company's gold, silver and base metal project in Peru, just north of Pampamali.
On Wednesday, the miner said it has identified numerous prospects that have characteristics to host precious and base metal mineralisation, including prospects which look likely to contain high grades of gold, copper, silver and/or zinc.
"Prospero appears to represent an extension of the nearby Pampamali geological system while the geochemistry suggests it is higher in the system with the presence of more base metals," it said.
The miner has submitted 212 samples for analysis at ALS Laboratories in Peru, which has shown strong gold anomalism in veins in the south east around the Claudio prospect.
The best results from the south east region include:
- 6.04 grammes of gold per tonne, 7.85 grammes of silver per tonne and 0.76% copper
- 3.64 grammes of gold per tonne, 11.15 grammes of silver per tonne and 1.65% copper
- 2.06 grammes of gold per tonne, 1.34 grammes of silver per tonne and 0.04% copper
In the central-east region, which holds the Horatio and Titania prospects, the best results included:
- 3.64 grammes of gold per tonne, 11.15 grammes of silver per tonne and 0.13% copper from the Horatio prospect.
- 0.25 grammes of gold per tonne, 145.0 grammes of silver per tonne and 9.85% copper from the Titania prospect.
- 0.02 grammes of gold per tonne, 1.63 grammes of silver per tonne and 2.93% copper, also from Titania.
"This latest program represents only a small portion of the Prospero area but provides confidence in extending the study area and following up several anomalous targets," said Chairman Simon Hunt.
Hunter shares were untraded on Wednesday, last trading at 0.405 pence per share.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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