drilling update16 Oct 2016 10:04
The company reports that its exploration drilling in and around its San Gregorio mine in Uruguay has “yielded positive results, which are expected to significantly enhance mine economics and increase reserves and resources in the short and medium term.”
Drilling from underground in the eastern part of the San Gregorio orebody has confirmed the continuity of mineralisation in each of the seven holes drilled so far. Drilling is continuing and has “demonstrated consistent and attractive mineralised intercepts and are expected to validate and increase reserves.” Among the results reported today, are a 10.3m wide intersection at an average grade of 2.6 g/t gold and a 15.3m wide intersection averaging 1.22 g/t gold.
Similar drilling of the depth extension of mineralisation in the western part of the mine has also demonstrated continuity of mineralisation and a further six-hole programme is being planned. Assay results from the deeper extension include intersections of up to 17.9m width and grades as high as 4.6g/t gold.