Molejon gold discovery adds to Petaquilla project

Drilling on the Molejon deposit on the Petaquilla property in Panama is returning gold values for Adrian Resources (TSE).

Based on 11 holes drilled to date, indicated and inferred geological resources total about 8.5 million tons grading 0.096 oz. gold per ton. The deposit remains open in three directions and, based on the continuity of mineralization and the extent of the Molejon geochemical anomaly, Adrian estimates its potential to be more than 3 million oz. of contained gold. The deposit outcrops over a large area and the initial stripping ratio is estimated to be less than 1-to-1.

Drilling is continuing on the Molejon deposit, as well as on the Vega deposit about 1.9 miles northwest.

The latter, which is open to expansion in three directions, now contains a geological indicated and inferred resource of 98 million tons grading 0.63% copper, 0.01% molybdenum and 0.003 oz. gold.

In addition to Vega and Molejon, the Petaquilla property includes the giant Botija and Petaquilla copper-gold deposits which contain a total geological resource of 1.6 billion tons grading 0.48% copper and 0.004 oz. gold. Adrian controls a 52% interest in Petaquilla, while Metall Mining (TSE) holds the remainder.