Vancouver – Eurasian Minerals‘ (EMX-V) shareprice jumped nearly 20% or 40¢ to close at $2.50 on drillhole results from its Grand Bois property in Haiti.
The best drillhole in the batch, hole 11, hit 28 metres grading 20.45 grams gold starting 2 metres downhole.
Another, hole 9, cut 21 metres grading 10.19 grams gold.
Eurasian collared the drillholes within the historic resource area in an uncapped oxide zone.
The intercepts were from a 17-hole drilling campaign as part of efforts to confirm and grow Grand Bois’ historic resource estimate. In 1986 a non-National Instruments 43 101 compliant resource pegged a “geological reserve” at 4.3 million tonnes grading 2.24 grams gold per tonne.
So far gold mineralization has be defined in what Eurasian calls a poorly consolidated tabular body of oxidized volcanic rock 300 by 350 metres in dimension. Eurasian also notes that as the mineralized area sits atop a hill’s flank it “would have a favorable stripping ratio for a potential open-pit operation.”
The Grand Bois property is a joint venture between Eurasian and Newmont Mining (NEM-N) which can earn a 65% interest in Grand Bois by, within six years, either funding the first US$10 million worth of project expenditures or finishing a positive feasibility study.
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