The firm has two rigs turning there and they have sunk 11 holes for around 4,000m..
Paraguay-focused Inc () updated on drilling at its Paso Yobai gold project, where focus has now turned to the Tacuru gold zone.
The firm has two rigs turning there and they have sunk 11 holes for around 4,000m.
So far, the company has tested four targets and has recently begun to focus on the central area of the Tacuru gold zone, where holes are testing for a feeder to the around 3 sq km high grade gold anomaly.
Drilling is currently on the south eastern part of the anomaly, where Latin American has previously hit high grade gold, including 94.6 gpt (grams per ton) over 2.6m (meters) at 34 m (meters) depth and 107.7 gpt (grams per ton) gold over 3.3m at 80m.
“The drilling programme to date has intersected multiple mafic sills which intrude sandstones down to vertical depths of greater than 250m,” the company said,
“Over the entire property, gold is observed to be hosted within sills and at the contact with the sandstone. While our program initially began with a regional focus, we have since turned all attention to targeting the Tacuru target due to the high-grade nature and extent of the gold historically observed on the property."
The company is anticipating that assays will begin to be received over the next several weeks.
"The blueprint to a successful exploration company is to find great people to discover, explore, interpret, and operate in areas where these people deem there to be great potential for mineralization,“ said Mathew Wilson, the president and chief executive.
“With people like Jeremy Niemi and Bira de Oliveira leading our program and the nature of the mineralization seen to date, I think this company is primed for exciting things."