Vancouver Recent drilling by Greystar Resources (GSL-T) has intersected high-grade structures surrounded by lower-grade zones at the company’s wholly owned Angostura gold-silver deposit in northeastern Colombia.
The highlight from the latest round of drilling was hole 05-13, which returned 21.56 grams gold per tonne over 7 metres in the Diamante area. Another hole in the same area hit 3.39 grams gold over 19 metres.
A hole drilled to the north at La Alta returned 7.23 grams gold over 18.1 metres. A hole drilled at Silencio, in the southern portion of the deposit, cut 8.74 grams over 10.65 metres, starting at 251 metres downhole. The same hole intersected veins further up-hole and returned 1.81 grams over 46.6 metres and 1.41 grams gold over 19 metres. A hole targeting these veins 50 metres to the east returned 0.74 gram gold over 32.9 metres and 1.05 grams over 15 metres.
Drilling hit two new structures at the southwestern part of the Silencio area and returned 1.34 grams gold over 16.5 metres and 1.33 grams over 17 metres, respectively. At the eastern limit of the deposit, a hole cut several veins, with the highlight being 6.22 grams over 3 metres. Drilling elsewhere is confirming many known veins, and intersecting narrow, isolated high-grade structures.
Greystar views the higher-grade structures as significant as they host more than 30% of the gold outlined to date. The company expects to release a new independent resource estimate for Angostura shortly. It will be based on 111,328 metres of drilling in 366 holes, compared with 96,627 metres in 315 holes used in a study released this spring.
The previous study estimated that Angostura hosts an indicated resource of 87.26 million tonnes grading 1.23 grams gold and 5.2 grams silver, containing about 3.45 million oz. gold and 14.5 million oz. silver. The project hosts an additional inferred resource of 111.51 million tonnes grading 1.26 grams gold and 4.7 grams silver.
Greystar envisions an initial heap-leaching operation at Angostura, and says gold recoveries in the oxide zone (roughly the top 100 metres of the deposit) should be "excellent" using heap-leach technology.
Metallurgical testing is continuing, as the deposit hosts different styles of mineralization both vertically and locally. Below the oxides are shallow sulphide and deep sulphide mineralization, while locally the gold is hosted in a series of more than 120 vein structures that contain varying mineralogy at specific locations.
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