Following up on results achieved by earlier operators, ValGold Resources (VAL-V) has intersected gold mineralization on three holes at the Los Patos gold prospect in Bolivar state, Venezuela.
In an eight-hole program, three holes are now complete, testing targets on the 7-km Los Chivos shear zone, which cuts Proterozoic-age mafic volcanic rocks and hosts gold-pyrite mineralization in quartz-tourmaline veins. Previous surface work, and eight drill holes, by Gold Fields (GFI-N, GFI-L, GFI-J) encountered an average grade around 1 gram per tonne on the Los Patos occurrences.
Each of ValGold’s three holes intersected narrow vein-type mineralization with fairly wide disseminations of gold surrounding it. In hole LI307-01, a 1-metre intersection ran 12.8 grams gold per tonne, with a 26-metre intersection enclosing it averaging 1.1 grams per tonne.
A second hole, LI307-02, graded 11.3 grams over 1 metre, but a 37-metre interval surrounding it averaged 0.8 grams per tonne. In LI307-03, a 57-metre interval averaged 1.3 grams per tonne, including three 1-metre intersections grading 13.3, 6.9, and 20.3 grams per tonne.
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