Gold Standard, Big Pony exploring for gold in Uruguay

Big Pony geologist Garrett McCandless is reported to be one of the first geologists to identify the rocks of southern Uruguay as being true Archean greenstones.

So far, Bond Gold has come up with at least one significant deposit in Uruguay, hosting reserves of 330,000 tonnes at a diluted grade of 8.9 g gold per tonne (0.26 oz per ton), on its Mahoma property, where a production decision is pending.

The Mahoma property is flanked by Gold Standard’s Escudero and Guaycuri properties. Both Gold Standard and Big Pony are conducting exploration programs in Uruguay out of their joint office in Atlantida, about 40 km east of Montevideo.

A program of land acquisition and reconnaissance exploration was completed recently by Big Pony, and a technical report has been distributed to more than 20 major companies for potential joint venture consideration. Big Pony plans to sell off direct interests ranging from 10% to 50% in its properties to further fund exploration work.

Values of up to 0.35 oz gold per ton have been returned in grab samples from Big Pony’s Paso de Lugo property, which comprises some 130 sq mi. The company’s technical report also mentions several occurrences of visible gold in various outcrops and quartz veins on that property.

Big Pony President Richard Boulay, who lives in Calgary and runs the company out of Salt Lake City, said he hopes to strike a deal with a major company in the near future. Big Pony has exploration funds totalling about $100,000 at present, he said.

Gold Standard, which controls more than 300 sq mi of mineral concessions in Uruguay, has a philosophy of pursuing grassroots-level exploration projects in areas of high potential for discovery with a minimum of risk to the company. Bond Gold is in a 50/50 joint venture with Gold Standard on its 119,789- acre San Juan Hills property in southern Uruguay.

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