Recent drilling is enabling junior to arrive at ore reserve calculation Reverse-circulation (RC) holes drilled by KWG Resources (KWG-T) on the Gaspar concession in central Cuba show impressive gold widths and grades.
Hole 271 averaged 40.29 grams gold per tonne from surface to 41 metres, including 68.26 grams gold for the first 24 metres. Other holes testing this structure on the same section include hole RC-90, which intersected 8.33 grams gold over 22 metres. On the next section, 20 metres to the north of hole RC-94, results averaged 3.02 grams over 60 metres. New hole 267 averaged 2.78 grams over 19 metres, and hole 268 averaged 2.08 grams over 27 metres, all on the same structure.
Hole 269 intersected 2.9 grams over 70 metres, including 11 metres (from 46 to 57 metres down), which averaged 17.34 grams. Among other previously announced holes that tested this structure on the same section is RC-96, which averaged 2.29 grams over 74 metres (including 13.68 grams over 11 metres). On the next section to the north, hole RC-2 (18.99 grams gold over 12 metres) intersected this same structure, while two new holes on the next section to the south include 272 (3.35 grams gold over 15 metres) and 273 (12.3 grams over 4 metres).
These RC holes were completed as part of an in-fill drill program being carried out in order to calculate reserves. Four previously announced trenches in this immediate area encountered surface mineralization averaging 5.6 grams gold over 82 metres. As well, five 100-kg samples selected from this same area averaged 12.7 grams in cyanide leach tests.
Once all of the drill results are in, KWG will complete its ore reserve calculation. A bulk surface sample for an on-site cyanide leach test is being excavated.
Company geologists believe they have intersected two (possibly three) auriferous zones of the feeder system to the Pilar deposit. These zones wander and merge but generally strike northwestward; they are sub-parallel to each other and dip eastward at moderate to high angles. These zones are traceable by trenching and drilling across several drill sections. Gold grades are variable along each zone.
According to KWG geologists, the Pilar region of the Gaspar concession has two controlling systems of mineralization: an 8-km-long,
northwest-To-southeast trend along which all the known mineralization to date has been found; and crosscutting mineralized faults, apparently hosting hydrothermal breccias. Where these two structures intersect, economic concentrations of gold mineralization may be encountered. Thus far, five such intersections have been identified over a 2-km strike length.
KWG believes there are two models of mineralization at Pilar: a conventional epithermal-style stockwork system overlain by a zone of lower-grade, chemically precipitated gold. The best gold values are usually associated with quartz veining, silicification and iron oxide mineralization.
KWG and Cuban state-owned Geominera each have a 50% interest in the Gaspar project. KWG is 25%-controlled by St. Genevieve Resources (SGV-T).
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