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Metminco intersects vein grading 31.8 g/t gold at Chuscal target in Colombia

The intercept at 250 metres down-hole corresponds to near-surface historical artisanal stope suggesting potential significant structural continuity.

Metminco Ltd - Metminco intersects vein grading 31.8 g/t gold at Chuscal target in Colombia
Assays from another drill hole expected mid-January

Metminco Ltd (ASX:MNC) has received preliminary gold results for CHDDH003, the third hole of its maiden drill program at the Chuscal gold target in the Mid-Cauca Porphyry Belt of Colombia.

The third hole successfully intercepted a number of high-grade vein-related gold in zones which correlate with Metminco’s modelled horsetail structures, a key feature which appears to be driving the distribution of high-grade gold through the mineralised system.

Plan view of Chuscal geology, interpreted mineralised corridors, horsetail structure and drill hole locations

Best intercepts include:

  • 6 metres at 2.97g/t gold from 250 metres including a 0.4 metres high grade vein from 253.3 metres grading 31.8 g/t gold;
  • 2 metres at 1.73g/t gold from 124 metres; and
  • 8.1 metres at 1.2g/t gold from 294 metres to end of hole and occurring with massive course grained galena and sphalerite.

Notably, the 6 metres at 2.97 g/t gold intercept encountered at 250 metres down hole and intense fracturing corresponds with the historic near-surface artisanal mining, suggesting potential for significant structural continuity over a large vertical extent.

Drill Hole CHDDH004, has also been completed for a total of 370 metres with assays due mid-January.

Visible logs from the field have confirmed that this hole has intercepted three horsetail structures.

Cross Section of hole CHDDH003 with interpreted geology

Metminco managing director Jason Stirbinskis said: “There is mounting evidence to suggest we are in a big, complex system, which is not surprising given the size and complexity of discoveries around us of the same age and style, some of global significance such as Nuevo Chaquiro and La Colosa gold porphyries together with other porphyry/epithermal systems within the Quinchia Project such as Tesorito, Miraflores and Dosquebradas.

“Heading into our 2020 program, we will now use our new found learnings from the 2019 drill program to target higher grade epithermal regions and vector in on the porphyries that are the source of all the mineralisation we’ve encountered.

“As a first step outstanding assay results from CHDDH003 and CHDDH004 will be integrated into a district scale 3D geological and structural model, covering the Chuscal, Tesorito, Miraflores and Dosquebradas porphyry/epithermal systems, which will provide valuable information to design a follow up program in early 2020.

“Internationally recognised porphyry consultant Dr Steve Garwin will oversee the study.

“Dr Garwin previously consulted to Andes Resources Ltd’s project located 70km north of Quinchia and currently consults to Solgold Plc (Cascabel Project in Ecuador) and Hot Chili Ltd (Cortadera Project in Chile).”

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