Hot on the heels of its merger with Hemlo Gold, Battle Mountain Gold (BMG-N) has announced a discovery in the Honduras, where drilling at the Cacamuya project returned multi-ounce assays.
Drill hole DH6-96 encountered three significant zones of mineralization.
Starting at a depth of 230 ft., the hole cut 26 ft. grading 0.04 oz. gold and 0.33 oz. silver per ton. At 475 ft., the company hit another 26-ft. interval grading 5.46 oz. gold and 29.69 oz. silver. Core recovery there was about 85%. At 528 ft., the hole hit a 4-ft. zone grading 13.27 oz. gold and 128.48 oz. silver. Core recovery at that hole was about 50%.
In addition, hole DH7-96, situated more than 1,800 ft. from hole DH6-97, intersected a 14-ft. zone grading 0.25 oz. gold and 8.67 oz. silver, with a recovery of only 18%.
The company is eager to continue drilling to determine the extent of the mineralization, but work will only resume once the rainy season subsides.
Battle Mountain has an option to earn a 70% interest from Breakwater Resources (BWR-T) in the 4,741-hectare property, which is in the southern part of the country, near the Nicaraguan border.
Half a world away, in Queensland, Australia, Battle Mountain continues to post success at the Vera-Nancy discovery. The company estimates the combined open-pit and underground resource has now reached 1 million oz. gold.
Assays there include 36 ft. grading 0.93 oz. gold and 72 ft. at 0.32 oz. at Nancy, and 67 ft. at 1.1 oz. at Vera. More recently, hole JMRD-2215, on the western edge of Nancy, returned 58.6 ft. grading 0.42 oz., starting from a depth of 1,280 ft., and 29 ft. at 0.73 oz. from the same depth. Another hole at Vera North, JMRD-2214, intersected 11.2 ft. grading 0.45 oz.
Although the deposit’s feasibility study is still on the way, PosGold Operations, the 50% operating partner of the joint venture, estimates the operation could produce 100,000 oz. per year.
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