Antofagasta confirms more gold in Chile

Antofagasta Gold (AN-V), which recently changed its name from Windamere Ventures, says initial drilling at its Capricornio property in Chile confirms it has made a regional-scale, low-sulphidation epithermal gold discovery.

Its fully owned Capricornio property is located 80 km north­west of Yamana Gold’s (YRI-T, AUY-N) El Penon gold mine and 20 km west of Xstrata’s (XTA-L) producing Lomas Bayas mine.

Highlights from initial drilling at the project, which Antofagasta Gold has optioned from Sociedad Quimica y Minera (SQM-N), returned intercepts that included 12 metres of 2.65 grams gold per tonne and 6.38 grams silver per tonne in drill hole 12-1; 17 metres of 3.60 grams gold and 20.70 grams silver with 5 metres of 6.20 grams gold and 57.78 grams silver in hole 12-2; and 4 metres of 5.28 grams gold and 4.92 grams silver in hole 12-8A.

The nine-hole drill program covered more than 400 metres of the cumulative 20 km of known, gold-bearing vein strike, and eight of the holes returned a weighted-average grade of 4.54 grams gold equivalent per tonne over 4.1 metres, with intercepts ranging between 2 metres and 17 metres.

The initial drill program was designed to test near-surface mineralization and verify historical results to a maximum depth of 150 metres from surface.

The junior also reported that a ground magnetic survey north of the exposed vein system suggests there could be another 3 to 6 km of host vein-structure strike below a shallow alluvial cover.

At press time Antofagasta Gold was trading at 80¢ per share within a 52-week range of 30¢ to 85¢. The junior has 48 million shares, fully diluted.

Print

Be the first to comment on "Antofagasta confirms more gold in Chile"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close