Toronto-based Greenstone Resources (TSE) and partner Boliden International Mining of Sweden continue to obtain encouraging results while drilling their Santa Rosa gold property in Panama. Greenstone says results from six holes drilled to the east and southeast of the Alto de la Mina open pit deposit have added to existing reserves of 12.4 million tons grading 0.061 oz. gold per ton.
Highlights from an ongoing 140,000-ft. program include hole 82 which intersected 442 ft. of grade 0.077 oz. at a depth of 249-691 ft. below surface. Another hole (91) also returned 76 ft. of 0.63 oz. between 10-86 ft. while hole 210 pulled 249 ft. of 0.088 oz. at around 350 ft.
The Alto de la Mina is the smaller of two deposits on a property which is expected to be producing 100,000 oz. gold by 1993. While drilling continues on other areas of the property held 49% by Greenstone and 51% by Boliden, work crews are constructing a test heap leach pad.
The joint venture also released the first encouraging assays from the Las Huacas area, two miles south of Alto de la Mina. Having intersected 23 ft. of grade 0.034 oz. near surface, the joint venture is planning more drilling.
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