Procoloro Res. drills gold targets at El Valle

A 10-hole diamond drill program is about to start at El Valle, a 93-hectare concession acquired by Procoloro Resources (PCH-M) in Colombia.

The property adjoins La Arenosa, an advanced property with a potential resource of 1.6 million tonnes grading 17.28 grams gold per tonne.

El Valle encompasses the north-eastern extension of the main vein at La Arenosa, and the current program is designed to intersect that mineralized structure.

Recent work at El Valle included the excavation of a 30-metre shaft and a 10-metre drift, both in the 2.5-metre vein.

Ten samples from these workings yielded values ranging from 2 to 47 grams gold, for an average of 17.28 grams gold, plus 33.93 grams silver. Some tailings were also sampled, yielding 9 grams gold. Procoloro has other properties in Colombia, including La Arenosa, and is negotiating to acquire three more.

To date, the company holds five properties totalling 3,773 hectares. The resource potential of these properties has been estimated at 3.6 million tonnes with grades in the same range as those at La Arenosa.