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Market: AIM
Sector: General Mining - Gold
EPIC: PGD
Latest Price: 29.00p  (0.87% Ascending)
52-week High: 71.00p
52-week Low: 22.00p
Market Cap: 216.79M
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Patagonia Gold
www.patagoniagold.com
Patagonia Gold is a mining explorer. It holds permits or options to purchase property in the Patagonian region of Argentina and Chile across an area of over 7,000 square kilometres. The company is exploring principally for gold and silver.

Major shareholders include Carlos Miguens, the Argentinean industrialist and Barrick Gold, the world’s largest gold miner. The company is led by Chairman, Sir John Craven, who is recently retired as Chairman of Lonmin, and Chief Executive Officer, Bill Humphries, the co-founder of the successful mining explorer, Brancote Holdings. He is also Chairman of Landore Resources, which is also an AIM listed mineral explorer.
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Patagonia Gold unveils 82.4 per cent increase in indicated resources at flagship Cap-Oeste deposit

30th Nov 2011, 8:55 am by Giles Gwinnett The firm has completed an updated resource model and NI 43-101 estimate for Cap-Oeste, which lies on the 80 sq km El Tranquilo block.

Patagonia Gold (LON:PGD) revealed this morning an 82.4 per cent increase to its indicated gold equivalent resource for its flagship Cap-Oeste gold-silver deposit in Santa Cruz province, Argentina.

The firm has completed an updated resource model and NI 43-101 estimate for Cap-Oeste, which lies on the 80 sq km El Tranquilo block.

Total gold equivalent (AuEq) ounces in the indicated category now stand at 966,972 -  an increase of 82.4 per cent compared to the previous model in 2009.

The inferred resource now stands at 228,968 ounces AuEq, Patagonia said in the statement.

In addition, the resource is still open along strike and down dip and infill and extension drilling is ongoing at the flagship project.

So far, 26 drill-holes have been completed in the new programme and assay results are pending.

Metallurgical testwork programmes are in progress aimed at defining a treatment route for the oxide and sulphide material types as the firm moves towards beginning a pre-feasibility study for Cap-Oeste in the first quarter of 2012.

Drilling is also continuing at the Monte Leon prospect, which is also contained on the El Tranquilo block along with the COSE bonanza gold and silver deposit which lies 2 km from Cap-Oeste.

Patagonia released today extracts from the report which accompanied the updated resource estimate.

Part of it read: "Cap-Oeste definitely merits further exploration for additional gold silver mineralisation in an epithermal setting."

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