Comet Resources Ltd (ASX:CRL) has intersected bonanza gold grades in a phase-1 drill program at the Santa Teresa Gold Project in Baja California, Mexico.
Eight holes were drilled during the program totalling 2,250 metres, varying in completion depth from 212.5 to 392.4 metres with multiple high-grade intersections including:
- 1.2 metres at 63.2 g/t gold from 124.8 metres;
- 0.7 metres at 27.5 g/t from 140.9 metres;
- 1.6 metres at 31.0 g/t from 239.8 metres; and
- 1 metre at 26.9 g/t from 91.9 metres.
Importantly, the results from the drilling program are now being incorporated into the resource modelling for the project to determine if a new mineral resource estimate is required.
Drill program
Comet has collected 490 drill core samples from the eight holes drilled during the program at the Santa Teresa Project.
Logging, sampling, packaging and transportation to the laboratory followed standard industry protocols under the supervision of Minera Cascabel SA de CV, a Hermosillo, Sonora-based geological consultancy.
Core samples were assayed at ALS Global, a worldwide certified analytical services company.
Notably, assay results confirm the continuity of mineralisation to the southeast with at least 140 metres of strike extension and 80 metres at depth.
Plan view of drill collar locations and drill hole traces with key assay results indicated.
Mineralisation at Santa Teresa
Comet has confirmed mineralisation to the northwest identified in a 2008 drilling program, with assays that indicate high-grade gold values down to 260 metres depth.
Notably, visible gold was observed in some fragments of drill core from this area of the project.
The projection of the structures to the surface show that the veins are high angle structures dipping at close to 90 degrees.
Plan view of drill collar locations and traces with key assay results from 2021 and 2008 drilling.
About Santa Teresa Project
The Santa Teresa Gold Project comprises two mineral claims totalling 202 hectares situated in the gold-rich El Alamo district, about 100 kilometres southeast of Ensenada, Baja California, Mexico.
The project is prospective for high-grade gold, with an existing non-JORC inferred mineral resource of 64,000 ounces gold at an average grade of 8.7 g/t, reported at a cut-off grade of 4 g/t.
In addition to the two claims of the project, two additional claims totalling a further 378 hectares in the surrounding El Alamo district are being acquired from EARL.