Argentina Gold (ARP-V) has posted impressive drill results from the Veladero project, situated in the northwestern portion of the country from which the company draws its name.
The junior recently collared hole 55 on the Filo Federico target, which represents a large geophysical anomaly coincident with an alteration zone and a geochemical anomaly. The hole intersected 168 metres grading 2.7 grams gold per tonne and ended in strong mineralization.
Hole 56 was drilled as a twin to hole 55, and intersected 303 metres of 1.162 grams gold and 14.02 grams silver per tonne. The best interval (from 70 to 208 metres) assayed 1.978 grams gold and 19 grams silver per tonne over the 138-metre interval.
The average grade to a depth of 168 metres was 1.36 grams gold per tonne in hole 55 and 1.38 grams in hole 56. The two highest values from holes 55 and 56 were, respectively, 75 and 39 grams gold per tonne and 12.8 and 8.5 grams per tonne.
For the current season, Argentina Gold intends to drill about 20,000 metres in a reverse-circulation program centred on an area measuring 500 by 600 metres. Hole 59 was recently collared 220 metres from hole 55 and, at last check, had reached a depth of 240 metres. Three rigs are now on the site, where drilling of hole 60 has commenced.
A test hole designed for geological control was put down near the southern margin of the Federico target, about 1 km southeast of hole 55. It hit 90 metres of 0.45 gram gold per tonne between 150 and 240 metres.
The thickness of the mineralization at Filo Federico is estimated to exceed 140 metres.
Argentina Gold is the operator of the Veladero project and holds a 60% interest in the property while Barrick Gold (ABX-T) holds the remainder. The project is 10 km from Barrick’s 17-million-oz. Pascua gold deposit.
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