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Patagonia Gold makes good start with drilling in Uruguay

Published: 07:44 07 Nov 2016 GMT

picture of drill cores
Uruguay is looking promising for Patagonia

Patagonia Gold plc (LON:PGD) intercepted gold in eight of the nine holes drilled at its Chamizo prospect in Uruguay, with five described as significant intercepts.

Best of the intercepts were a width of 15.5 metres with1.38 grams per tonne (g/t) gold and 16.2 metres at 1.72 g/t at depths to 150m.

Patagonia added it has only drilled 900m of the 3.5km strike identified at Zona 13 where it its currently focusing its efforts.

The strike is open in all directions while with areas at Carreta Quemada and Zona 14 and 15 also drill ready and have coincident geophysical and geochemical anomalies. 

It is Patagonia's first drill programme in Uruguay and Christopher van Tienhoven, chief executive, said he was pleased with the results.

Grade and thickness were very encouraging and with a potential strike extent of over 3.5 km, Zona 13 is looking like it has the potential to develop into an important asset, he said.

 

 

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