A 10-hole drill program on the Macuchi prospect in central Ecuador has uncovered what may be a new mineralized area, reports Northfield Minerals (NFM-T).
Drilling 75 metres west of the Mercedes zone, Northfield hit copper-gold mineralization over encouraging widths in two holes. Hole 39 intersected 64 metres grading 1 gram gold per tonne and 0.5% copper at a depth of 142 metres, including 13 metres grading 2.2 grams gold and 1.3% copper. Hole 40 hit 11 metres grading 3.6 grams gold and an undetermined amount of copper at a depth of 254 metres.
The remaining holes tested and confirmed gold and copper mineralization in the Mercedes zone itself. The best results include: 39 metres grading 0.97 gram and 0.34% copper in hole 30, including 4 metres grading 4.59 grams and 0.67% copper; and 30 metres grading 2.36 grams and 0.63% copper in hole 37.
The Mucuchi concession, held as a 50-50 joint venture between Northfield and Ecuadorian-based Gribipe Mining, covers a 12-km-long mineralized horizon in andesitic rocks. The horizon contains the historic Mercedes copper-gold mine, several precious and base metal deposits, and a number of showings.
Northfield believes the property has excellent potential to host both volcanogenic massive sulphide and epithermal gold deposits. Several of the gold zones, including the updip extension of the Mercedes, are potentially amenable to open-pit methods.
Drilling to date on the Mercedes and the new West zones covers an area equivalent to only 10% of the Macuchi landholdings. Northfield says at least four other areas with known surface showings of gold and copper remain to be tested.
Meanwhile, the company has launched a first-phase drill program on the Nambija prospect, where previous work identified a gold-bearing skarn over a strike length of 800 metres and a width of 200 metres. Northfield can earn a 65% interest in the prospect.
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