Agate Bay, partner drilling at Pachina

Partners Agate Bay Resources (ABE-V) and Demand Gold (DOT-V) have drilled six reverse-circulation holes at the Pachina prospect in Chile.

The property covers widespread copper-gold showings within a gently dipping, 100-metre thick package of skarn-altered volcanic and sedimentary rocks. The initial drilling returned a near-surface, 12-metre interval grading 0.35% copper in hole 6 and a 10-metre section grading 0.1% copper in hole 2.

Under a deal with a Chilean subsidiary of RTZ, the junior partners acquired an option on a 75% interest in the Sieco 5-9 claims, which encompass and expand the Pachina property to cover the extensions of coincident geophysical and soil geochemical anomalies. Terms of the agreement call for an expenditure of US$1.5 million.

While Agate Bay and Demand review the preliminary results from Pachina, drilling has shifted to the Cerro Cobre property, where a porphyry copper target is being investigated.