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Epic & Msn data
Epic PGD
Time: 09:14:26
Mid Price: 17.25
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 18.25
Fifty Two Week Low: 9.13
Market Capital: 102.44
Period & price data
Period Price
Now: 17.25
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: General Mining - Gold
Epic: PGD
News: Latest news
Web Site: Patagonia Gold
Other Articles: 01-12-200930-11-200910-11-2009

Patagonia Gold

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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Thursday, October 08, 2009

Patagonia Gold ups Cap-Oeste resource estimate 89%, commences follow-up drilling

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Argentina focused gold explorer Patagonia Gold (AIM: PGD) upped the resource estimate for its Cap-Oeste gold and silver project in Argentina by 89% following a drilling campaign which it said confirmed the presence of a wide gold mineralised structure with a core containing bonanza gold and silver.


The NI43-101 compliant estimate for Cap-Oeste now stands at 655,932 ounces (oz) of gold equivalent compared to the previous estimate of 347,497 oz. The revised estimate has an Indicated resource of 5,629,645 tonnes graded at 1.89 g/t (grammes per tonne) gold and 65.04 g/t silver for a total 342,120 oz gold and 11.77 million oz silver, representing 88% of the total, while half of the maiden resource was in the Indicated category.


The company has delineated a total of 893,000 oz of gold equivalent on the Lomada and Cap-Oeste project in 30 months since acquiring the Santa Cruz properties from Barrick Gold.


A follow-up drill programme has commenced at the Cap-Oeste project based on the COSE prospect, which has only two previous drill holes, one of which reported an interval of 12 metres at 2.53 g/t gold, including 3 metres at 5.19 g/t gold. Drilling of other prospects in the Cap-Oeste area has also returned high-grade results, including 5 metres at 8.13 g/t gold at the Don Pancho prospect and 1 metre at 63.70 g/t gold at the Felix prospect, where more drilling is planned for this year.


House Broker Fairfax has a ‘buy’ rating and a 22 pence target price, noting that Patagonia Gold is expected to commence gold production in 2010 from a trial heap leach operation at the Lomada de Leiva Project, also in Argentina.  Lomada de Leiva is expected to produce approximately 21,000 ounces per annum.

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