Soma Gold Corp announced that it has initiated exploration of its newly-acquired Otu Centro properties in Colombia and has provided an update on the planned 2023 exploration program.
The gold producer/explorer said it has planned a two-phase 10,000 metre (m) diamond drill program to start in the third quarter of 2023.
"The amount of informal mining activity at several different gold-bearing quartz veins indicates the strong potential for discoveries along the Otu Fault," Soma Gold vice president of exploration Chris Buchanan said in a statement.
“Soma's pending drill program will target newly recognized high-grade ore shoots within the past producing La Aurora and Constancia mines," he added.
Soma Gold also noted that it is initiating a mapping, soil sampling and stream sediment program on the Nechi property to better identify drilling targets planned for 2024.
It added that the updated program contemplates an annual program that includes over 40,000m of diamond drilling with a yearly exploration spend of about US$4 million, which is expected to continue through 2025.
Otu Centro properties are located immediately to the south of, and contiguous with, Soma Gold's existing Zara exploration properties along the prolific Otu Fault corridor, the company said.
Soma Gold owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tonnes per day (tpd) - permitted for 1,400 tpd.
The company also owns an exploration property near Tucuma, Brazil that is currently under option to Ero Copper Corp.
Contact Sean at sean@proactiveinvestors.com