A 10,000-metre program of reverse-circulation drilling on the Pederson gold project in Bolivia is nearing completion, reports Orvana Minerals (ORV-T).
Although assays have been received for only eight of the 39 holes drilled so far, Orvana says the program is confirming grade continuity and mineralization to the west and north. The company has also identified two new zones on the eastern side of the regional anticline.
Orvana is acquiring a half interest in the property, which occupies part of a large, low-grade, gold-antimony system hosted by Lower Paleozoic sedimentary rocks. The remainder is held by Bolivian-based Empresa Minera Unificada.
The best results from the latest drilling include: 59.5 metres grading 1.25 grams per tonne in hole P43; 64.1 metres grading 1.3 grams in hole P48; and 18.3 metres grading 3.89 grams in hole P45. The results, all of which are from the Pampa zone, are consistent with Orvana’s expectations.
When all the results are available, Orvana will calculate a new resource figure for the property.
Indicated resources stand at 19 million tonnes grading 1.8 grams, whereas inferred resources are estimated at 18 million tonnes grading 1.5 grams.
Orvana continues to drill on the Main zone and plans to carry out drilling on new areas identified on the eastern flank. Also, the Toroca zone will be drilled for the first time.
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