CaribGold accelerates Cuban exploration program

Positive results from initial area examinations have prompted Caribgold Resources (TSE) to intensify its gold exploration efforts in Cuba.

In the Laura sector of the Camaguey property, diamond drilling is scheduled to begin immediately. Up to 30 shallow holes are planned in order to examine geological and structural formations, and geophysical surveys will be carried out before year-end. Previous samples from this sector returned values of up to 0.4 oz. gold per ton.

Meanwhile, trenching is continuing in the Lumy sector of the property, where an oxidized altered zone in volcanics has been outlined for more than 400 metres. Expanded ground work is to begin shortly.

At the Santa Elena concession, reconnaissance soil sampling has yielded a new gold discovery. The program returned gold values of up to 0.7 oz. in silicified rocks, and several airborne electromagnetic (EM) anomalies have also been identified. Drill targets should be confirmed by late January. In the Santa Clara area, induced-polarization (IP) surveys are under way over EM anomalies in the vicinity of the Pedro Barba structure. Previous drilling at the Lote Grande prospect encountered high gold values associated with massive sulphides. Some of the better EM anomalies will be drill-tested in February.

Airborne geophysical surveys will be carried out over two additional blocks within Santa Clara in January.

An IP survey is under way in the Sigua sector of CaribGold’s Sierra Maestra Oriental concession. The Sigua zone of alteration and oxidation, which is estimated to be 100 metres wide by 1,000 metres long, has yielded high gold and silver values. Multi-element analyses also returned high barium and base metal values. Drilling is planned for February.