Metminco intersects high grade gold of 31.8 g/t at Chuscal
Metminco Limited (ASX: MNC), soon to be renamed Los Cerros Limited, has received preliminary gold results for the third hole (CHDDH003) of the maiden drill program at the Chuscal gold target in the Mid-Cauca Porphyry Belt of Colombia.
This third hole successfully intercepted a number of high-grade vein-related gold in zones which correlate with Metminco's modelled horsetail structures, a key feature which appears to be driving the distribution of high-grade gold through the mineralised system.
The Chuscal target is part of the company’s Quinchia Gold Project, located in the Mid-Cauca Porphyry Belt of Colombia, which is an emerging as a larger regional gold play and includes the 3.9 million ounce Marmato Project.
- 6m @ 2.97g/t Au from 250m including a 0.4m high grade vein from 253.3m grading 31.8 g/t o 2m @ 1.73g/t Au from 124m,
- 8.1 m @ 1.2g/t Au from 294m to end of hole and occurring with massive course grained galena and sphalerite.
Notably, the 6m @ 2.97 g/t Au intercept encountered at 250m down hole and intense fracturing corresponds with the historic near-surface artisanal mining, suggesting potential for significant structural continuity over a large vertical extent.
The results provide further validation of the importance of the horsetail feature and six east-west trending structural corridors as the controlling structure for epithermal gold mineralisation.
A fourth drillhole, CHDDH004, has also been completed for a total of 370m with assays due mid-January. Visible logs from the field have confirmed that hole #4 has intercepted three horsetail structures.
Metminco’s Managing Director, Jason Stirbinskis concluded: “There is mounting evidence to suggest we are in a big, complex system, which is not surprising given the size and complexity of discoveries around us of the same age and style, some of global significance such as Nuevo Chaquiro and La Colosa gold porphyries together with other porphyry/epithermal systems within the Quinchia Project such as Tesorito, Miraflores and Dosquebradas.
“Heading into our 2020 program, we will now use our new found learnings from the 2019 drill program to target higher grade epithermal regions and vector in on the porphyries that are the source of all the mineralisation we’ve encountered.
“As a first step outstanding assay results from CHDDH003 and CHDDH004 will be integrated into a district scale 3D geological and structural model, covering the Chuscal, Tesorito, Miraflores and Dosquebradas porphyry/epithermal systems, which will provide valuable information to design a follow up program in early 2020.
“Internationally recognised porphyry consultant Dr Steve Garwin will oversee the study. Dr Garwin previously consulted to Andes Resources Ltd’s project located 70km north of Quinchia and currently consults to Solgold Plc (Cascabel Project in Ecuador) and Hot Chili Ltd (Cortadera Project in Chile).”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.