An updated reserve estimate is being prepared for Arequipa Resources’ (TSE) Paron gold property in northern Peru.
The recalculation follows infill and delineation drilling conducted on a tabular, outcropping orebody hosted within sheared monzonite. The drilling was designed to elevate a near-surface gold resource, estimated at 2 million tonnes grading 3.11 grams gold per tonne, into the proven and probable category.
To date, the potential open-pit, heap-leach gold deposit has been tested with 62 holes totalling 2,670 metres. Test pits and exploration tunnels were constructed.
Drill results range from 0.51 to 3.7 grams gold over widths of 1.5-34.5 metres, with an average thickness of 10 metres. Silver values range from 0.4 to 20.2 grams.
Stepout drilling, to the west, intersected mineralization of a different nature. The westernmost offset hole intersected 72 metres of brecciated and silicified shale averaging 0.67 gram. It is the first time that mineralized sedimentary rock has been observed at Paron, and its significance will be tested by additional drilling.
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