Soma Gold Corp (CVE:SOMA) (OTCMKTS:PRSRF) (FRA:8PR1) has unveiled encouraging exploration results, including from three drill holes, at its Zara concessions in Antioquia, Colombia, which underscore the potential to expand resources.
At the Estrella-Diamantina zone, which lies 2 kilometers (km) south-west of the company's past-producing, high-grade Limon mine, drilling and sampling have shown that the Estrella-Diamantina mineralized trend extends for over 4km in strike and hosts an exploration target of more than 500,000 ounces of gold down to 250 metres (m) in depth.
READ: Soma Gold wins permits for second portal accessing Cordero deposit in Colombia
Multiple channel samples of over 10 grams per ton (g/t) gold have been found from existing small miner workings (up to a maximum of 64 g/t), it added.
"The results of the current program supports the company's assumptions on the continuity of the mineralized trend and bodes well for the establishment of a larger resource as the exploration program moves south," said Javier Cordova, Soma's CEO, in a statement.
"The company's existing mines are located at the northern end of the claims blocks. The current program is leveraging the work, at the surface and near the surface, completed by small miners in the region to map the mineralized veins and pinpoint the locations of the highest grade material."
Cordova added that the current mapping and sampling will focus on its planned four-year, 100,000m DDH drilling program.
"We have only begun to understand the extent, grade and depth of the mineralized zone on the northern section of the Otu Valley. Mapping of the veins exposed by the small miners indicates that the mineralized trend continues south for 13km on Soma's property," he said.
Soma said it had built a new 3D model integrating its channel samples, mapping and mining data for the under-explored mineralized trend on the Zara project, which has identified three new zones for follow-up exploration and drilling with potential for high gold grades.
Drill highlights included 13.85 g/t gold over a length of 0.75m from a depth of 105.2m in one hole. Another hole hit 1.30m, from 100.3 to 101.6m depth, grading 1.96 g/t of the yellow metal.
The current drilling program commenced in early February 2021, noted Soma, and results from the first three holes, totaling 847m, have been released.
That represents 25% of the planned program and were completed by the end of March. The remaining drilling will be completed by the end of June, 2021, the company said.
Soma owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tonnes per day (tpd). The firm is permitted for 1,400 tpd. Its El Bagre Mill is currently operating and producing and internally generated funds are being used to finance a regional exploration program.
Contact the author at giles@proactiveinvestors.com