Greystar updates resource

Junior Greystar Resources (GSL-T) has updated the resource estimate for its wholly owned Angostura gold-silver property in northeastern Colombia.

Indicated and inferred resources now stand at 9.3 million tonnes grading 6 grams gold and 11.4 grams silver per tonne, based on a cutoff grade of 3 grams gold. This jumps to 96 million tonnes averaging 1.6 grams gold and 5.8 grams silver when the cutoff grade is lowered to 0.5 gram.

Kinross Gold (K-T), which holds a 21% equity stake in Greystar, authored the study and had its methodology reviewed by Strathcona Mineral Services of Toronto.

Resources are distributed among 54 gold-bearing lenses and six disseminated zones in an area measuring 600 by 400 metres. The area has been drilled with 181 holes totalling 51,970 metres.

According to Greystar, the tabular-shaped lenses vary in strike length from less than 100 metres to over 1 km, extend up to 300 metres in depth and average 7.5 metres in width. The higher-grade shoots lie at the intersection of the lenses and faults/shears.

Infill drilling is planned, as is exploration for new structures elsewhere on the 40-sq.-km property.