Undaunted by the withdrawal of a potential senior partner and armed with almost $1 million from a recent financing,
Late last year, after Barrick Gold pulled out of the project, the Toronto-based junior completed four reconnaissance holes to test an anomaly interpreted as the faulted extension of the Main zone on the La Salle 1 gold property. These holes returned mostly low-grade gold values (below 1 gram per tonne), with intervals up to 2.1 grams over 3 metres, 1.89 grams gold over 5 metres, and 1 gram over 9 metres.
Since then, the company has drilled seven preliminary holes on properties adjoining La Salle to the north. Three of these were drilled on Guaiquinima II, and four on Anacoco II. On the latter property, hole 7 cut several gold-bearing sections, including 4 metres averaging 4.68 grams (from 14 to 18 metres) and a deeper section averaging 1.37 grams over 22 metres (starting at 48 metres). All were in saprolite.
In the same area, hole 5 cut a gold-bearing zone associated with sulphide mineralization in the underlying bedrock. The overall intersection averaged 0.89 gram gold per tonne over 31 metres (starting at 133 metres) and included a 3-metre section averaging 4.64 grams. The widely spaced holes at Guaiquinima II returned low-grade values.
Chesbar says drilling to date has confirmed favourable geology and gold mineralization over a total length of 4.8 km, with the trend still open to the north. Results from recent work will be compiled with existing geological, geochemical and geophysical data to guide the next phase of work. The company has obtained all necessary permits to continue a program of exploration drilling.
Be the first to comment on "EXPLORATION 1999 – Chesbar keeps on trucking in Venezuela gold camp"