Infill drilling at Extorre Gold Mines‘ (XG-T, XG-X) Cerro Moro project in Argentina’s Santa Cruz province has captured the attention of investors, with high-grade intercepts carrying 11 metres of 36.3 grams gold per tonne and 4,412 grams silver, including 1 metre at 487.4 grams gold and 37,993 grams silver in drill hole 1391.
Other highlight assays include hole 1405, which returned 5 metres of 27.5 grams gold and 3,424 grams silver, and an intersection in hole 1411 of 4 metres at 32.8 grams gold and 2,819 grams silver.
The high-grade results come from 17 of 28 new holes drilled on Cerro Moro’s Zoe zone. Two drill rigs are active at Zoe: one for testing extensions at depth, and the other for exploring Zoe deposit repetitions as far as 3 km away.
The deepest intercept of significant mineralization at Zoe was drill hole 1433, which intersected 9 metres of 1.3 grams gold and 261 grams silver, including 1 metre of 2.3 grams gold and 953 grams silver at a vertical depth of 420 metres.
Extorre is working on the project’s third preliminary economic assessment (PEA), which it expects to finish before March. The PEA is based on an updated resource estimate released on Nov. 3.
The second PEA was based on an interim resource estimate that did not include any resources from the Zoe discovery, which Matt Williams, the company’s exploration manager, says “represents twenty-four percent of the total indicated mineral resource and thirty-seven percent of the inferred mineral resource” for Cerro Moro. Two of the four drill rigs at the project are focused on Zoe.
At presstime Extorre traded at $9.55 per share within a 52-week band of $4.23 and $14.84 per share. The company has 92.5 million shares outstanding.
Be the first to comment on "Extorre delivers gold and silver in Santa Cruz province"