Greenstone drills new zone at La Libertad

Greenstone Resources (GRE-T) has discovered a new high-grade gold zone at its La Libertad property in Nicaragua.

The new zone, dubbed Santa Elena, is situated immediately northeast of the Crimea zone, just outside the company’s proposed “super-pit.” The new zone, originally identified through ground geophysics, has been tested by nine holes, which provided confirmation of at least 250 metres of strike length. The structure remains open at depth and to the northeast.

Highlights from the holes drilled into Santa Elena include: 16.5 metres (from 97.5 metres) grading 8.4 grams gold per tonne in hole SE98-1; 15 metres (from 102 metres) of 2.4 grams gold in hole 2; 3 metres (from 111 metres) of 21.8 grams gold in hole 5; 15 metres (from 74 metres) of 11.1 grams gold in hole 7; and 16.5 metres (from 279 metres) of 91.4 grams gold (uncut) in hole 9.

Greenstone says that the new results from Santa Elena have prompted it to alter its 1998 exploration strategy at La Libertad. While drilling to date has been focused on reserve-definition work within the super-pit area, the company will now shift gears to further extend the Santa Elena zone, which could potentially support a stand-alone milling operation.

Meanwhile, at La Libertad, drilling has wrapped up on the north leg, which encompasses the zones Mojon SW, Mojon, Zopilote, Babilonia, and Crimea, and on the south leg, which encompasses Esmeralda, Populares, Victoria and Santa Maria.