Recent drilling on the Victoria project in Peru has outlined a new zone of significant gold mineralization.
The project is a joint venture between Pangea Goldfields (PDG-T) and Sundust Resources (SUN-M).
Recently drilled hole 10, which tested a 150-Metre-wide induced-polarization (IP) anomaly (previously identified as Vein 4) intersected widespread, porphyry-Type gold-Copper mineralization within a dioritic intrusive. A 20.3-Metre interval 38.6 metres down in the hole assayed 1.75 grams gold per tonne, 16.07 grams silver, 0.57% copper, 0.09% zinc and 0.07% lead (including 5.8 metres of 4.02 grams gold per tonne, 48.88 grams silver, 1.83% copper, 0.18% zinc and 0.19% lead). At 90.8 metres down, a 1.64-Metre interval assayed 2.69 grams gold per tonne, 9.75 grams silver, 0.44% copper, 0.04% zinc and 0.03% lead, and at 112.9 metres down, a 7-Metre interval assayed 2.36% grams gold per tonne, 11.01 grams silver, 0.35% copper, 0.13% zinc and 0.43% lead.
According to Pangea, these results open up a new target area, dubbed zone 4, with bulk-Mining potential.
Pangea intersected several mineralized zones, which are associated with brecciated intrusive, disseminated chalcopyrite and pyrite. A second drill rig has been added to the project, and both are drilling stepout holes from hole 10. Zone 4 is open along strike at both ends, and systematic IP coverage of the area will be completed during the current program.
Pangea has also completed seven additional holes on the Atenea mineralized dyke structure, primarily testing a strike extension to the southwest. The mineralization along the Atenea structure has now been traced over a strike length of 400 metres down to a depth of 200 metres.
The latest results from the Atenea drilling include the following: 2.8 metres of 0.2 gram gold, 11.5 grams silver, 1.4% copper, 0.45% zinc and 0.3% lead in hole 7; 10.55 metres of 3.02 grams gold, 29.75 grams silver, 0.91% copper, 3.42% zinc and 1.8% lead in hole 8; 9.3 metres of 1.03 grams gold, 27.94 grams silver, 0.39% copper, 0.18% zinc and 0.2% lead in hole 12; 4.5 metres of 1.87 grams gold, 54.37 grams silver, 0.75% copper, 0.22% zinc and 0.08% lead in hole 14; and 2.7 metres of 0.96 gram gold, 125.15 grams silver, 3.55% copper, 3.93% zinc and 4.45% lead in hole 15.
Subsequent to the stepout drilling on zone 4, Pangea plans to drill the Pucamina shear zone. Geological mapping continues over the rest of the property, and new areas of strong alteration are being sampled.
Pangea is managing all exploration work. In addition, it is operator of the Victoria project, which it owns jointly with Sundust in a 50-50 arrangement.
Sundust and Pangea equally share 15 projects in Peru.
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