Vancouver A five-hole drill program over the Condoryacu gold property in Argentina has confirmed the earlier-cut gold grades for juniors Ascot Resources (AOT-V) and Cardero Resource (CDU-V).
The project is located 150 km southwest of Salta.
Gold, silver and copper mineralization were previously discovered in intensely silicified and brecciated granite, in association with sphalerite, galena, tetrahedrite, enargite and native gold.
The newly completed 400-metre drill program tested the southern outcrop zone to examine the controls on mineralization and determine the vertical extent of previously reported high values in gold, silver and copper.
Hole 1A was collared at the same site as last year’s hole 14 (57 metres grading 21.2 grams gold and 84.9 grams silver per tonne, plus 1.45% copper). It cut 76.4 metres grading 18 grams gold, 115.3 grams silver and 2.2% copper from 0.61 metre down-hole.
Moving 70 metres to the west, hole 2 cut 14.3 metres grading 14.85 grams gold, 146.6 grams silver and 1.75% copper from 80.5 metres down-hole.
Testing the downdip extension of this mineralization, hole 3 was drilled from the same pad and cut 7.6 metres grading 3.29 grams gold, 126.2 grams silver and 0.67% copper from 114.2 metres down-hole,
Hole 4 was collared 40 metres south of the first hole and cut 8 metres of 4.6 grams gold, 38.8 grams silver and 1.84% copper from 35 metres down-hole.
The juniors are very encouraged by the results and expect to launch a second round of drilling in October.
Cardero can earn a 100% interest in the project by making an initial cash payment of US$110,000 to the property owner and completing additional cash payments of US$875,000 over the next 22 months.
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