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Metminco drills more gold in fourth and final hole at Chuscal

Metminco is exploring for a multi-million ounce discovery within its Quinchia Gold Project and follow-up drilling at Chuscal is being planned.

Metminco Ltd - Metminco drills more gold in fourth and final hole at Chuscal
Metminco is soon to be renamed Los Cerros Limited

Metminco Ltd (ASX:MNC) has received assays for its fourth and final diamond drill hole at its Chuscal Prospect within its Quinchia Gold Project in Colombia.

Results from CHDDH004 include 8 metres at 1.65 g/t gold from 8 metres including 2 metres at 3.86 g/t gold from 8 metres.

Metminco’s managing director Jason Stirbinskis said: “In the context of a maiden drilling program into a large porphyry/epithermal system, the results from CHDDH004 in conjunction with results from the other three holes (CHDDH001 350 metres at 0.57 g/t gold plus 8 metres at 2.82 g/t gold and 29.96 g/t silver, CHDDH002 320 metres at 0.43 g/t gold plus 0.5 metres at 17.1 g/t gold, CHDDH003 0.4 metres at 31.8 g/t gold) are significant and pleasing.”

Developing nearby prospects to Miraflores

The Chuscal prospect is defined by soil and rock chip geochemistry and located 1.7 kilometres south of the proposed processing plant for the Miraflores deposit.

The more advanced Miraflores gold deposit has a resource of 877,000 ounces grading 2.80 g/t gold and a Ore Reserve of 457,000 ounces gold grading 3.29 g/t.

Metminco has identified targets such as Chuscal nearby to Miraflores that could host potential complementary deposits to develop alongside Miraflores.

A big, complex system

Stirbinskis added: “Now that we have all the assay data, we will further test our hypotheses by conducting more detailed analysis of the geochemistry, including pathfinder ratios, to vector in on where all this porphyry associated gold might be coming from.

“We can also return to the oriented drill core armed with the geochemistry and extract critical information about vein sets, pulses and structures that will hopefully tell us what to look for to hit the high grade veins that have been the driver of artisanal miners for generations.

“This is a big, complex system!”

Metminco is formulating the follow-up drill program and will provide updates as insights and plans emerge.

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Metminco submits plan of works for Miraflores gold project

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on 31/1/18

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