First Hole at Chile's Andacollo Gold Mine Intersects 71.7 Meters of Gold Mineralization

en.Wedoany.com Reported - On November 9, Canadian mining company Galantas Gold announced the exploration results of the first drill hole at its Andacollo gold project in Chile. Hole AN26001, located in the Tres Perlas pit area, returned 71.7 meters of gold mineralization averaging 0.76 g/t gold, including a 10-meter high-grade interval grading 3.15 g/t. The hole is part of the project's ongoing 15,000-meter drilling program, and the assay results for the first hole have now been disclosed.

Drilling data show that hole AN26001 intersected 71.7 meters of gold mineralization from 50.0 to 121.7 meters depth, within which the 10-meter interval from 92 to 102 meters averaged 3.15 g/t gold, and the 3-meter interval from 94 to 97 meters averaged 6.68 g/t gold. The hole was drilled at an azimuth of 330 degrees and a dip of minus 50 degrees. The reported mineralized interval lengths are down-hole measured lengths; the true thickness of the mineralized body remains to be determined.

The same hole also identified several separate gold mineralized intervals: 17.11 meters grading 0.52 g/t gold from 145.54 to 162.65 meters; 18 meters grading 0.91 g/t gold from 213 to 231 meters, including a 3-meter interval grading 3.24 g/t; and 18.08 meters grading 0.63 g/t gold from 298 to 316.08 meters. These mineralized intervals all lie within the existing inferred mineral resource estimate of the Tres Perlas pit.

Based on the company's geological analysis of the drill core, the gold mineralization is mainly hosted in stratiform mineralized bodies within volcanic rocks, and the high-grade sections are associated with primary stratiform mineralization. The company believes these results provide further evidence for evaluating the lateral continuity of high-grade mineralization. The main 71.7-meter mineralized interval averages 0.040% copper, and copper grades in the other main gold mineralized intervals are also relatively low.

The current drilling program at the project totals 15,000 meters, with two drill rigs currently deployed. The work includes infill drilling within the existing mineral resource estimate, geological verification required for the mine plan currently being prepared, and testing of new exploration targets. Gold and total copper assays for hole AN26001 were completed by the Bureau Veritas laboratory in Santiago, Chile, using methods including fire assay and atomic absorption.