TIDMPGD
RNS Number : 8223P
Patagonia Gold PLC
13 February 2019
13 February 2019
Patagonia Gold Plc
("Patagonia Gold" or the "Company")
Drill Results - San Jose Project in Uruguay
Patagonia Gold Plc, the AIM-listed mining company with gold and
silver projects in the Patagonia region of Argentina and in Chile
and Uruguay, is pleased to release the first drill results from its
San Jose Project in Uruguay.
Highlights:
-- Seven holes drilled, comprising five reverse circulation (RC)
and two diamond drill (DD), in an 882 metre drill programme,
completed in December 2018
-- All of the seven holes cut gold mineralisation
-- Best intercept was 4.55 m @ 4.7 g/t Au (including 0.7 m @ 27.6 g/t Au) in hole DWDD-010
-- Mineralised structure open for expansion along strike along
the north-south direction and depth
The Dream Walker prospect (previously named Carreta Quemada) is
located within the east-west trending San Jose Greenstone Belt of
early Proterozoic-age (+/- 2.1 billion years) in Uruguay,
comprising greenschist to lower amphibolite facies metasediments
and metavolcanics, with frequent, large granitic-granodioritic
intrusives. The geological setting appears typical of the terranes
that host some of the world's most prolific Orogenic Gold Belts,
such as those of the same age in the West Africa Craton, which host
many multi-million ounce deposits.
The project is located on a strong NW-striking regional-scale
shear zone (the "Carreta Quemada Shear Zone"). Field observations
and aeromagnetic data indicate a several kilometre wide, diffuse
zone of NW-SE oriented lineaments and structures.
First pass drilling results from the 2018 exploration campaign,
carried out at the Dream Walker Project confirmed the existence of
a north-south trending, mineralised structure which can be traced
for over at least 300 m and remains open for expansion on strike
and at depth (Figure 1).
Figure 1. Drill locations
http://www.rns-pdf.londonstockexchange.com/rns/8223P_1-2019-2-12.pdf
This initial drill program was based upon anomalous geochemical
rock chip sampling from an earlier trenching sampling program,
which resulted in 2m @ 16.2 g/t Au (sample 200282, DWTR-002) and 1m
@ 1.25 g/t Au (sample 1960, DWTR-001) as disclosed in 2016.
The significant intercepts from the present drilling results
are: 4.55 m @ 4.7 g/t Au (incl. 0.7 m @ 27.6 g/t Au) and 7.1m @ 1
g/t Au (incl. 1.55m @ 3.73 g/t Au) from drill hole DWDD-010; 3.9m @
1.63 g/t Au, and 1.4 m @ 1.67 g/t Au, from drill hole DWDD-009; and
1m @ 3.9 g/t Au and 1.3m @1.62 g/t Au, from drill hole DWDD-001.
These intercepts are at an average depth of 40 m below surface
(Table 1).
Table 1: Analytical results and drill intercepts, Dream Walker
Project, Uruguay
Hole ID From (m) To (m) Length (m) Au (g/t)
DWDD-001 74.85 75.85 1.00 3.90
--------- ------- ----------- ---------
DWDD-009 48.70 52.60 3.90 1.63
--------- ------- ----------- ---------
and 61.70 66.55 4.85 0.92
--------- ------- ----------- ---------
incl 63.30 64.70 1.40 1.67
--------- ------- ----------- ---------
DWDD-010 13.75 18.30 4.55 4.70
--------- ------- ----------- ---------
incl 15.60 16.30 0.70 27.60
--------- ------- ----------- ---------
and 20.00 27.10 7.10 1.00
--------- ------- ----------- ---------
and 40.95 45.85 4.90 2.18
--------- ------- ----------- ---------
incl 43.50 45.05 1.55 3.73
--------- ------- ----------- ---------
DWRC-005 82.00 85.00 3.00 2.49
--------- ------- ----------- ---------
DWRC-008 19.00 20.00 1.00 1.54
--------- ------- ----------- ---------
and 45.00 48.00 3.00 0.89
--------- ------- ----------- ---------
incl 45.00 46.00 1.00 1.96
--------- ------- ----------- ---------
and 77.00 79.00 2.00 1.87
--------- ------- ----------- ---------
Trench ID From (m) To (m) Length (m) Au (g/t)
--------- ------- ----------- ---------
CWTR-001 58.70 59.70 1.00 1.25
--------- ------- ----------- ---------
CWTR-002 202.00 204.00 2.00 16.20
--------- ------- ----------- ---------
These mineralised structures are open both along strike and at
depth. To the south, the results of a RC fence drilling
demonstrated the possible continuation of this mineralised trend,
and which resulted in 2m @ 1.87 g/t Au, from drill hole DWRC-008;
and 3m @ 2.49 g/t Au, from drill hole DWRC-005. Given that this
fence was drilled at 90 degrees (approximately) to the strike of
the main mineralised structure, these additional intersections
confirm that the project contains multiple mineralised zones. The
RC holes were drilled orientated west to east dipping at 50
degrees, on 50 metre centres. These RC holes are located around 1
km to the south of the DD holes. The area between these two drill
zones is still untested and represents a significant exploration
potential. Intercepts reported herein are drilled widths; true
widths are not yet known.
Qualified Person's Statement
The scientific and technical information herein was reviewed by
Dr Walter Soechting, PGeo (2009) and Fellow of the Society of
Economic Geologists. Dr Soechting is a geologist with over
twenty-five years of experience in exploration for precious metal
mineral deposits. Dr Soechting has experience in the type of
deposit under consideration, and enough experience in the type of
activity that he is a 'Qualified Person' within the meaning of NI
43-101. Dr Soechting consents to the inclusion in the announcement
of the matters based on the information in the form and context in
which it appears and confirms that this information is accurate and
not false or misleading.
The analyses of the drilling samples reported herein were
performed by Alex Stewart Laboratories, which is ISO 9001/IEC17025
and ISO14001 certified. Patagonia Gold's quality assurance-quality
control program (QAQC) includes systematic insertion of blanks,
standard reference material and duplicates to ensure laboratory
accuracy.
Christopher van Tienhoven, CEO of Patagonia Gold commented on
the drill results:
"The results obtained from this maiden but limited drill
campaign are encouraging and we are currently reviewing our next
steps to evaluate the gold potential of this exciting, new
occurrence."
For more information, please contact:
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Plc
Tel: +54 11 5278 6950
James Spinney / James Dance / Jack Botros
Strand Hanson Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 7409 3494
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
About Patagonia Gold
Patagonia Gold Plc is an AIM-listed mining company that seeks to
grow shareholder value through exploration, development and
production of gold and silver projects in the Patagonia region of
Argentina. The Company is primarily focused on its flagship Cap
Oeste project in Santa Cruz and the recently acquired Calcatreu
project in Rio Negro. In addition, it is carrying out exploration
in Manchuria and Sarita in Argentina and San Jose in Uruguay.
Patagonia Gold, indirectly through its subsidiaries or under option
agreements, has mineral rights to over 220 properties in several
provinces of Argentina, Chile and Uruguay and is one of the largest
landholders in the province of Santa Cruz, Argentina.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLUUSBRKOAUAAR
(END) Dow Jones Newswires
February 13, 2019 02:00 ET (07:00 GMT)
Patagonia Gold (LSE:PGD)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Patagonia Gold (LSE:PGD)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
