Recent drilling by Melinga Resources (VSE) on the Macuelizo copper-gold project in northwest Honduras, Central America, returned a number of copper-gold intersections.
The drilling is part of a 150-hole reverse circulation program designed to further test two stacked mineralized zones.
Preliminary estimates of reserves based on previous work by Melinga, as well as the United Nations and the Metal Mining Agency of Japan, put total reserves in the upper oxidized gold zone at 16 million tons grading 0.04 oz. gold per ton. Below that, the lower zone contains an estimated preliminary reserve of about 11 million tons grading 0.67% copper.
Current drilling is spaced on about 80-ft. centres with a vertical and angle hole drilled from each setup.
Hole 92-1 was drilled in another area to test a geophysical anomaly and although sulphides were encountered, values were not significant. Melinga is initiating a study of the mineralogy of the lower zone to determine its potential leachability.
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