Vancouver — The low price of gold has prompted NDT Ventures (NDE-V)to stop exploring the Antana gold property in Peru.
A 16-hole, reverse-circulation drill program and a scoping study indicatethat more work on the project is justified only at higher gold prices.
The drill program tested a 500-by-250-metre area and returned significantmineralization in surface samples.
According to the company, the drill-tested zone lies in the footwall andforms part of a much broader zone of gold mineralization hosted in arhyodacite sub-volcanic intrusive. The mineralized rock is stronglybleached, moderately-to-strongly silicified and dissected by a diffusenetwork of silica stockwork stringers and limonite-stained fractures.Drilling encountered multiple zones of mineralized rhyodacite separated bylenses of black shale.
The main zone of mineralization outcrops over an area that measures 1,000metres by 400 metres and forms a northwest-trending ridge. Despite thepresence of wide zones of 1-gram-gold-type material in 15 of the 16 holes,the grade is too low to warrant further work with the current gold price ataround US$270 per oz.
Located in Azangaro province, near the town of Juliaca, the concessioncovers 40 sq. km.
NDT was earning a half- interest in the property by paying the vendorUS$1.5 million over three years.
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