Grades drop at Golden Hill

The latest drill results at the Golden Hill gold-copper project in Cuba, unlike those from earlier in the year, have been unspectacular.

MacDonald Mines (MMP.A-A) reports that Hole GH-64, drilled at the Three Hills zone, encountered 1 metre grading 2.11 grams gold per tonne at the surface (in oxide material) followed by 102.2 metres of sulphide mineralization. The sulphide portion of the core included 31.8 metres averaging 0.94 gram gold and an 18.95-metre section averaging 0.56% copper.

Hole GH-61, drilled at the Big Golden Hill zone, yielded 12.35 metres of oxide averaging 0.95 gram gold followed by 36.8 metres of sulphide, which included a section of 24.45 metres averaging 0.43 gram gold. Another hole from Big Golden Hill cut 7.5 metres of near-surface oxide averaging 0.74 gram gold.

The results were comparable to those reported in recent weeks, but far lower than results reported in early February, when MacDonald’s share price jumped to $3.15 from 46 cents in a few days on the strength of results from Golden Hill in the order of 20-40 metres grading 3-10 grams gold.