Geominera to back Joutel at Zona Barita

Cuban state-owned Geominera will exercise its option on the Zona Barita project of Joutel Resources (TSE).

The latter has outlined an estimated resource of 9 million tonnes grading 1.64 grams gold and 6.3 grams silver per tonne at Zona Barita, where epithermal gold and silver mineralization in quartz breccia zones is hosted by volcanic rocks.

Drilling intersected mineralization in seven of 10 drill holes. The intersections were from 8.7 to 78 metres long, with gold grades ranging between 0.98 and 1.6 grams per tonne, and silver grades of 0.99-13.6 grams. A higher-grade interval included in one intersection was 25.5 metres long and graded 3.9 grams gold and 34 grams silver per tonne.

Under Joutel’s concession agreement, the company can elect to move a project from an initial “prospecting” phase to a more advanced “exploration” phase, in which reserves are drilled off. The Cuban company can back in for a 50% working interest in any project that reaches this stage.

Joutel is planning additional drilling — for a total of 35 new drill holes — and will also begin metallurgical studies on the deposit. Some geochemical and geophysical targets on the concession will also be drilled.

Meanwhile, Joutel is awaiting assay results on core samples from three other Cuban projects: Vega Grande (copper-zinc); La Purisima (gold); and Tres Antena (gold).