A drilling program is under way on Goldteck Mines’ (TSE) placer concessions in southern Chile where two rigs have completed 50 holes in this year’s US$250,000 program. Goldteck says its initial efforts have concentrated on the Dopanilhue drainage area which hosts preliminary reserves of some 60,000 cubic metres grading 1.7 grams of gold per cubic metre.
Last year, only 70% of the holes drilled by Goldteck penetrated bedrock, and the company has modified its vibra drill core system to achieve improved results. So far, it says, gold grades have been encouraging for holes drilled adjacent to last year’s holes. A larger overburden drill has also been sent in to penetrate areas with deeper overburden.
Meanwhile, the company continues to acquire additional ground in Chile, and recently concluded an option to earn a 51% interest in seven placer concessions totalling 1,200 hectares along the Dopanilhue drainage basin. Goldteck has committed to spend US$50,000 by May 15, 1991, after which it must spend US$400,000 over three years to earn its interest in the claims. The company is also negotiating on two other concession groups in the region.
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