Soma Gold Corp. (TSX-V:SOMA, OTCQX:SMAGF) has announced updated results from its 2024 diamond drill program at the Cordero Mine on the El Bagre project in Colombia.
The company has previously reported results from the first 19 holes of the program, with geochemical analysis on the remaining seven holes pending.
Thursday’s results include these seven holes and 12 additional drill holes focused on the extension of the gold-bearing Cordero Vein.
Highlights included one hole with 1.2 meters at 22.3 grams per ton (g/t) gold (Au), including 0.4 meters at 66.2 g/t Au. Another hole returned 1.7 meters at 25.0 g/t Au, including 0.65 meters at 35.4 g/t Au and 0.4 meters at 41.6 g/t Au.
The program extended the strike length of the high-grade quartz veins that delineate Level 1 on the western side of the dyke system, bringing it to a total strike length of 305 meters.
The Level 1 vein remains open for further expansion to the south with future infill drill programs.
Additional surface drilling is planned to determine the up-dip extent of each vein segment and better evaluate the distribution of gold grades within these segments.
Soma’s team is developing an internal resource model based on this interpretation which will guide the development work required to commence mining operations on Level 1 later in the third quarter of 2024.
"We are pleased to be able to extend the strike length of the Level 1 quartz veins at Cordero Mine by 68 meters to the south,” Soma Gold vice president of exploration Chris Buchanan commented.
“This trend remains open to the south and will continue to be the focus for further development of the deposit."
Soma is also exploring targets on the Machuca Property, also located in Colombia.
A drill rig was mobilized to the La Aurora Mine in September and is testing the vein system and along strike.
Sampling at the Psyche 2 target continues, with it expected to be completed by early October 2024.
Investors welcomed the update from Soma Gold, sending shares almost 10% higher in the late morning on Thursday.