Greenstone boosts grade

Final assays from a recent drill hole on Greenstone Resources’ (TSE) Santa Rosa gold project in Panama have produced a pleasant surprise for the company. After checking assays from hole 75, Greenstone reports an intersection of 249 ft. grading 0.17 oz. gold per ton near the project’s Alto de la Mina zone, compared with 249 ft. of 0.12 oz. gold reported last month (T.N.M., Jan. 21/91).

Earlier assays were incomplete as several sections that appeared to be barren had not been assayed and were assigned a zero grade. Hole 75 also includes one section of 134 ft. grading 0.20 oz. gold.

“This hole is a successful test of the projected northeast extension of the Alto de la Mina deposit,” said Greenstone President Ian Park. “We are now finding high-grade mineralization in rock types which had been considered unfavorable,” he said.

The company is now reassaying sections that were previously assumed to be uneconomic. This could lead to a recalculation of the property’s existing reserve base of 12.4 million tons grading 0.061 oz. gold, he said.

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