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Patagonia Gold Plc
Summary
| Project: | San Jose | |
|---|---|---|
| Deposit: | Zona 13 | |
| Location: | Uruguay | |
| Commodities: | Gold | |
| Date: | 11/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-11-2016: Patagonia Gold Plc announces an Exploration/Drilling Update report for its Zona 13 deposit at the San Jose project. Drilling results incl. 16.2m @ 1.72g/t Au from 64.4m. Patagonia Gold Plc, the mining company with gold and silver projects in Ar | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Boyes (Internal) | |
| ABSTRACT: | Patagonia Gold Plc, the mining company with gold and silver projects in Argentina, Chile and Uruguay, is pleased to provide an update in respect of its exploration activities in Uruguay. Christopher van Tienhoven CEO commented "We are pleased with the results from our first drill programme in Uruguay, both the grade and thickness of the mineralisation intersected on the main shear to date are very encouraging and with a potential strike extent of over 3.5 km, Zona 13 is looking like it has the potential to develop into an important asset in our property portfolio. We look forward to continuing work on Zona 13 and the adjacent properties within the project area." Since the Company exercised its option in January 2016 to acquire, subject to achieving certain milestones, up to 100% of Trilogy Mining Corporation's ("Trilogy") gold projects in Uruguay, which includes, inter alia, Trilogy's existing Carreta Quemada and Chamizo exploration gold projects as well as any future areas that they may be granted, the Company has escalated its exploration activities in country to seek to define drill targets. The Company has undertaken and continues to undertake geological mapping, soil and stream sediment geochemistry, ground magnetic and induced polarisation surveys and has also completed its first drilling programme at Zona 13 within the Chamizo exploration area. Set out below are further details on the exploration activities to date. Following initial geophysical and geochemical programmes, the Company has completed a 910 metre exploration diamond drilling programme, consisting of nine holes, on Zona 13 within the Chamizo exploration area, with all assay results having now been received. Zona 13 was the first of a series of extensive Pole-Dipole Induced Polarisation (PDIP) geophysical anomalies drilled on the Chamizo joint venture area, with eight of the nine holes intersecting mineralisation with significant assays reported in five of the eight mineralised intervals, including 7.2 metres @ 2.64 g/t Au from CHDD-002 and 16.2 metres @ 1.72 g/t Au from CHDD-004. | |
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