High-grade gold assays with silver and copper credits have been returned from the first four diamond drill holes completed at Cougar Metals’ Porteira Prospect within the Alta Floresta Project in Brazil.
The best results include: · 0.85m at 33.8 grams per tonne (g/t) gold (Au), 18.0g/t silver (Ag) and 0.75% copper (Cu) from 109.2m in hole PORCD011; · 0.85m at 19.9g/t Au, 10.2g/t Ag and 1.28% Cu from 98.2m in hole PORCD014; · 0.80m at 13.9g/t Au and 3.5g/t Ag from 131.4m in hole POACD002; and · 0.50m at 19.0g/t Au and 8.0g/t Ag from 107.8m and 0.85m at 2.90 g/t Au, 4.0g/t Ag and 0.67% Cu from 110.2m in hole PORCD026.
The Porteira Prospect is located 4km west of the town of Peixoto de Azevedo and is the first of the high-priority targets to be drilled within the Alta Floresta Project. The latest results confirm the continuity of high-grade gold-silver mineralisation below the historic workings at the prospect.
The company’s managing director Randal Swick said that these results support the high-grade gold and silver assays previously announced for the Porteira Prospect from early grab sampling and subsequent RC drilling. Significantly, the strongly mineralised structure remains open along strike and at depth.
To date, a total of five diamond core holes have been completed as part of the early evaluation diamond drilling program in the northern part at the Porteira Prospect. Assays have been returned for four of these holes. At least four more core holes are planned to be drilled immediately.
The aim of this initial diamond drilling is to indicate the strike extent and continuity of the mineralised structure at the prospect. The four diamond drill holes for which assays have been received have tested 80m of strike and indicate a high degree of continuity of the gold bearing quartz-sulphide lode. RC drilling has encountered stopes in holes drilled in the 60m of strike immediately north and this is now being targeted with two of the four planned additional core holes.
The other two holes are planned to intersect the lode up to 100m below these recent intercepts. A more comprehensive diamond drilling program will continue later in the year, aimed at determining resource parameters for this deposit.
“The intersection of high-grade gold-silver mineralisation through and below the previous workings at the Porteira Prospect supports Cougar’s belief in the commercial potential of the vein systems within the Alta Floresta Project,” said Mr Swick. “The high-grade nature of the mineralisation encountered at the prospect, and the fact that it remains open at depth and along strike, provides the company with encouragement that a significant gold-silver deposit may be delineated at the Porteira Prospect.”
- 21 Aug 2006
http://www.minebox.com/story.asp?articleId=8125
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Comment: emailed Swick on Saturday and suggested he make use of Kitco whenever he has high grades.
CGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
