Drill results keep HRC Development hopeful at Laguna Verde in Argentina

Junior HRC Development (VSE) is drill-testing the Nordin gold porphyry zone at the Laguna Verde property in Argentina’s Catamarca province.

The highly oxidized zone is the site of a reverse-circulation program along a strike length of 1,000 ft. and a width of 650 ft. Mineralized intersections range from 361 ft. of 0.011 oz. gold per ton for hole 7 to 354 ft. of 0.029 oz. (including an interval grading 0.045 oz. over 105 ft.) for hole 12. In all, 16 holes totalling 5,000 ft. were drilled in the gold stockwork.

The zone remains open to the southeast and at depth. A recent geophysical survey has identified an induced-polarization (IP) anomaly coincident with the Nordin zone, extending along strike 3 miles to the southeast.

An additional 6,000-8,000 ft. of drilling will test the Nordin extension zone over a strike length of 2 miles and will follow up on five other IP-resistivity anomalies outlined along a 5-mile-long structural trend. Field mapping has identified small outcrops of strongly altered volcanics with gold-bearing quartz stockworks within the trend.

A second zone of gold mineralization, 1,500 ft. northwest of the Nordin zone, was tested in a 3-hole program which totalled 1,250 ft. Results included 52 ft. of 0.031 oz. for hole 17, 183 ft. of 0.020 oz. for hole 18, and 158 ft. of 0.027 oz. (including 105 ft. grading 0.035 oz.) for hole 19. Further drilling will investigate the potential of the newly identified zone.

Cameco (TSE) recently dropped its option to earn a 51% interest in the 360-sq.-mile property from joint-venture partners Eldorado (TSE) and HRC by spending at least US$8 million in exploration expenditures. The juniors intend to seek a new partner.