Minera IRL (LON:MIRL) this morning unveiled the discovery of a “significant mineralised system” at the Don Nicolas gold and silver project in the Santa Cruz Province of Argentina.
Drill results from Choique, which is around one kilometre from the Martinetas Vein Field, were highly impressive.
They included a 6.7 metre section grading 10.5 grams per tonne of gold and 19.8 grams of silver and 6.10 metres at 5.43 grams of gold and 27.6 grams of silver.
In all 35 holes were drilled for a total of 2,386 metres. The gold and silver was found in volcanic rock called a rhyolite dome within 50 metres of surface.
Don Nicolas is currently in the development permitting process, and the new discovery was made 1.6 kilometres from where the Minera plans to place a treatment plant.
Chairman Courtney Chamberlain said: "The strong assay results from a newly recognized rhyolite dome complex at Choique unlock significant value close to the main mineralized vein system at Martinetas and represent a positive return from our recent brownfields programme.
“Only 1.6 kilometres from the planned Don Nicolas plant, the Choique discovery not only shows immediate potential for increasing the resource base and mine life, but also provides great encouragement for more potential discoveries close to Martinetas."