Orofino Gold Corp announced the discovery of a new gold and silver zone after the analysis of test results from the Culo Alzado mining area, while Mercer Gold Corporation announced they were “encouraged” by the results of its drill program at the Guayabales Gold Project.
Random chip samples from the Culo Alzado mining area were extracted from or near vein systems – layers of ore between layers of rock – and returned average results of 1.02 troy ounces per ton of gold and 2.15 troy ounces per ton of silver according to a press release published Monday. These are above industry wide averages.
The exploration program will be escalated as recommended by the company’s Qualified Person, an engineer or geo-scientist with at least five years experience in mineral exploration or mine development or operation.
Meanwhile Mercer Gold will continue analysis of the 16,400ft drilling program at the Guayabales Gold Project in the department of Caldas, as it is “encouraged” by what has been found so far.
Company President James Stonehouse said, “We now have more detailed information on geology, which gives us more confidence in the interpretation of upcoming geophysics … We expect to be able to move forward and start developing a resource.”
