Scout drilling at the Victoria gold property in west-central Peru has identified a gold-bearing structure for partners Pangea Goldfields (PGD-T) and Sundust Resources (SUN-M).
Hole 77 intersected 2.3 metres averaging 6.87 grams gold per tonne, starting at a vertical depth of 25 metres. The hole was collared over a showing that has since been dubbed Vein 5.
Meanwhile, in-house calculations have pegged the advanced Atenea, Pucamina and Zone 4 zones with a combined resource of 4.3 million tonnes averaging 3.52 grams gold and 31.06 grams silver per tonne, plus 0.68% copper. The estimate is based on a cutoff grade of 1 gram, which, when increased to 3 grams, decreases the resource to 1.9 million tonnes grading 6.56 grams gold, 53.72 grams silver and 1.01% copper.
Pangea, which is operating the project, assumed 5.9 metres as the average width of mineralization and incorporated material extending from surface to a depth of 260 metres.
The results are being incorporated into a scoping study that envisages a 750-tonne-per-day operation.
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