After receiving positive assays from the first drill hole from the Buzzard gold property in South Carolina, Calgary-based Cepeda Minerals (CMM-V) wanted to be sure of what it really had. New core pulps were prepared by the company for reassessment, and while the new assays were slightly lower, they confirmed previous results.
Last month, Cepeda announced the results of hole DDH-96-1, which intersected 179 ft. of gold mineralization grading 0.129 oz. per ton.
The new figure indicates 179 ft. grading 0.108 oz. gold. A 5-ft. interval (from 13 to 18 ft.) grading 2.87 oz. gold was reassayed at 2.43 oz. An 89-ft.
interval (from 90 to 179 ft.) that originally graded 0.066 oz. gold was reassessed at 0.055 oz. gold on the second run.
Both the first and second assays used fire-assay methods.
Meanwhile, the company has begun a second phase of drilling on the target.
While the other holes in the first round of drilling came up empty, additional mapping and sampling around the area suggest the mineralized zone dips to the south.
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