Rio Narcea hits high grade in Spain

Encouraging results from drilling at El Valle, a gold deposit in northern Spain, are reported by Rio Narcea Gold Mines (RNG-T).

Hole Val-107, which tested the northern part of the Black Skarn target, encountered 21 metres of oxidized jasperoid breccia averaging 3.9 grams gold per tonne and 0.3% copper starting at a depth of 167 metres.

Half a kilometre to the northwest, hole Val-109, intersected 21 metres of strongly altered skarn grading 18.7 grams gold per tonne at a depth of 74 metres. The hole tested the updip extension of mineralization in the West El Valle zone.

Rio Narcea says it will likely need to re-evaluate the pit design to incorporate the new mineralization.

Hole Boi 117, which tested the Black Skarn near the contact with the granitic intrusive, hit 13 metres of deeper mineralization (419 metres below the surface) grading 12.5 grams gold, 89 grams silver and 2.2% copper. At a depth of 444 metres, the hole intercepted an additional 11 metres of 7.6 grams gold, 108 grams silver and 3% copper.

Boi 117 is within 100 metres of the previously announced high-grade hole — Boi 110.

Rio Narcea has nine drill rigs on its properties in northern Spain, including four at the Carles property, 9 km north of El Valle, and one in the Oscos gold belt.