More Colombian gold for Greystar

Vancouver-based Greystar Resources (GSL-V) has recovered high-grade gold intercepts at its Angostura gold project, situated in northeastern Colombia.

Two step-out diamond drill holes returned significant mineralized intercepts. Intervals from hole 5, drilled to a depth of 425.5 metres, include: 3 metres (from 32 to 35 metres) grading 1.2 grams per tonne; 21 metres (from 149 to 170 metres) of 2.08 grams, including 7 metres of 3.93 grams; and 9 metres (from 373 to 382 metres) of 13.1 grams, including 3 metres of 38.92 grams.

Mineralized intercepts recovered from hole 6, drilled to a depth 264 metres, include: 3 metres (from 104 to 107 metres) of 1.2 grams; 22 metres (from 115 to 137 metres) of 21.93 grams, including 11 metres of 43.37 grams; and 6 metres (from 176 to 182 metres) of 1.08 grams.

Silver assays from these holes are pending.

The geology of the above holes consists of argillized and silicified porphyry with stockworks of pyrite and quartz stringers. The high-grade intersections occur in highly silicified, cherty, pyritized sections accompanied by alunite, visible gold and hydrothermal breccia.

According to preliminary calculations, the resource of the deposit stands at 34 million tonnes grading 1.65 grams gold per tonne, using a cutoff grade of 0.5 gram. Using an alternate cutoff grade of 0.3 gram, resources come to 105 million tonnes grading 0.95 gram.