viewMetminco Ltd

Metminco well advanced with pre-drill program at Colombian gold project

Maiden diamond drilling into the large surface gold anomaly is set to begin within the next few weeks.

Metminco Limited - Metminco well advanced with pre-drill program at Colombian gold project
An adit accessing the Guayacanes structures where artisanal miners have been active

Metminco Limited (ASX:MNC) is well advanced with preparations for its maiden diamond drilling of an expansive surface gold anomaly at Chuscal project, which is part of the Quinchia Gold Project in Colombia.

Final pre-drilling ground geophysics and adit mapping is underway after recent groundwork identified new exposures of the epithermal vein system.

Andes merger completed

The company has completed the compulsory acquisition of all outstanding Andes Resources Limited shares which represents the final step in the merger.

Metminco’s managing director Jason Stirbinskis said from the site that it was exciting times for the company to be on the ground at the project.

“With the merger completed, we can now focus on our fast approaching maiden diamond drilling program at Chuscal with pre-drilling geophysics and surface mapping underway.

“We’ve kicked off our on-ground activities with a final round of geophysics and adit mapping to help refine the targeting of the first drill holes.”

Detailed mapping

The company’s geology team is conducting detailed surface mapping and gaining valuable insights through mapping within artisanal underground workings.

Diamond drilling is set to begin within the next few weeks.

“Chuscal has some unique qualities when compared to other porphyry type mineralisation in the regional porphyry cluster in that it is overprinted by mineralised epithermal veins, which typically carry higher-grade gold,” Stirbinskis said.

Chuscal “compelling”

“It is the second mineralisation event, the over-printing of epithermal veins, that makes Chuscal so compelling as higher-grade veins within a backdrop of porphyry gold mineralisation have a good chance of producing substantial high-grade gold zones,” he said.

Artisanal mines in the area concentrate on the Guayacanes structure where gold-bearing veins, exploited by the artisanal miners, occur within a mineralised diorite porphyry.

Company geologists are mapping the higher-grade zones underground to confirm orientation and gather additional crucial geological information ahead of drilling.

Magnetics program

The ground magnetics program of around 60 line kilometres over 5 square kilometres covers the Chuscal surface gold geochemical anomaly with the Central Zone average grade of 2.66 g/t gold (uncut) lying within a 900 by 530-metre envelope averaging grade of 1.76 g/t (uncut).

Modelling of susceptibility shells will provide a third dimension to surface geochemistry model, improving the predictability of the drilling program.

Quick facts: Metminco Ltd

Price: - -

Market: ASX
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metminco Ltd named herein, including the promotion by the Company of Metminco Ltd in any Content on the Site, the Company receives from said...


Metminco submits plan of works for Miraflores gold project

Ram Venkat, non-executive director at Metminco Ltd (ASX: MNC)(LON:MNC), tells Proactive they've submitted a plan of works to the Colombian Mining Agency for the Miraflores gold project. The plan follows Metminco’s announcement last year that it had established a reserve of 457,000 ounces...

on 31/1/18

2 min read