Verena Minerals (VML-V) has finished the first phase of a 37,000-metre drilling program at the Volta Grande gold project in Para state, Brazil, and the two known deposits there have been extended.
The first phase of work was a 25-hole, 5,000-metre program that tested the Grota Seca West zone with some holes on the Grota Seca East zone about 300 metres to the east, mainly to outline higher-grade bodies in the two zones. A 2005 estimate, based on drilling by earlier operators, put the size of the indicated resource at 3.8 million tonnes grading 1.4 grams gold per tonne and the inferred resource on both zones at 29 million tonnes grading 1.2 grams per tonne.
The two zones lie on the northwest-striking contact between volcanic-derived mafic schists to the south and a diorite intrusion to the north, with the mineralization itself occupying a wide (10 to 80 metre) and nearly vertical mylonitized zone. Grades over those widths tend to be in the 1- to 2-gram range, with narrower zones of higher-grade material.
Among the better results in the current drill campaign were a 69-metre interval in Grota Seca West that ran 1.6 grams gold per tonne, and another on the same cross-section of the zone that ran 1.3 grams per tonne over 74.9 metres.
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