Shares of Delgratia Mining (DELGF-Q) hit the US$30 mark after more results were released from reverse-circulation drilling carried out at the company’s property, 50 km south of Las Vegas, Nev.
At the end of February, Delgratia released results from three vertical holes, which graded 2.9 grams gold per tonne over 134 metres, 1.1 grams over 183 metres, and 2.4 grams over 268 metres. A fourth vertical hole, reported on March 19, intersected 317 metres grading 2.1 grams, starting at a 3-metre depth.
The Northern Miner has learned, however, that the assays were performed at the company’s own lab, with checks carried out at two independent facilities.
The company refused to disclose the name of the independent labs “at this point.”
The 36-sq.-km claim block is in an area underlain by Tertiary-age volcanic rocks with interbedded sediments. Most gold deposits in the region are epithermal veins in volcanic host rocks, though the company speculates that the mineralization occurs mainly in sediments.
Delgratia is earning a 70% interest in a private company, Nevada Gold, which holds title to the property. It acquired the first 40% from another private company, Philgold Investments, for US$5 million plus 1 million shares. Under option provisions in the earn-in agreement, Delgratia has made an additional US$15 million work commitment to earn an additional 30% and will be issuing 3 million more shares to Philgold.
Be the first to comment on "Delgratia makes waves on U.S. markets"