Drilling by Holmer Gold Mines (HGM-A) at its San Fernando concession in central Cuba has confirmed the presence of a massive sulphide deposit.
The Toronto-based company drilled three follow-up holes within 25 metres of its original discovery hole, which intersected 3.25 metres (from 126 to 129.25 metres) assaying 0.81% copper, 14.1% zinc and 0.3% lead, plus 1.71 grams gold and 272 grams silver per tonne. The discovery hole is immediately north of a former copper-zinc producer.
Hole 10 intersected 2.75 metres (from 125.25 to 128 metres) grading 5% copper, 15.8% zinc, 1.2 grams gold and 135 grams silver. Hole 11 cut 1 metre (from 159 to 160 metres) of 5.7% copper, 3.3% zinc, 1.3 grams gold and 130 grams silver. Hole 12 cut 7.2 metres (from 147.2 to 154.4 metres) of 1.1% copper, 8.9% zinc, 0.9 gram gold and 127 grams silver.
Mineralization is associated with a chert horizon along a mafic-felsic volcanic contact within a well-defined volcanogenic massive sulphide system.
The zone remains open in all directions.
Surface and downhole geophysical surveys have been completed, and a 10-hole, $300,000 drill program will begin in February.
Holmer Gold also has two concessions in western Cuba: Loma Hierro (silver) and Matahambra West (oxide gold and copper). All of the company’s operations in the island country are joint ventures with state-owned GeoMinera.
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