Estrella Gold Corporation TSXV:EST announced results from the Daylight Gold Zone of its Colpayoc Gold Project, southwest of the Yanacocha Gold Mine in northern Peru. Assays include 0.49 g/t gold over 123.5 metres (including 0.9 g/t over 6 metres), 0.67 g/t over 100.7 metres (including 0.81 g/t over 32 metres), and 0.55 g/t over 91 metres (including 0.84 g/t over 8.8 metres). The Daylight Zone has an inferred mineral resource estimate of 7.6 million tonnes at a grade of 0.60 g/t containing 144,600 ounces gold.
President Keith Laskowski tells ResourceClips.com, “Colpayoc is very close to the largest deposit in South America, located 12 kilometres southwest of the Yanacocha Gold Mine porphyry gold system that has an outcropping mineralized zone. We started with an initial gold resource, and now we’re expanding it with additional drilling.
“Today’s assays are consistent with our expectations. We’re measuring wide zones of oxide gold mineralization at surface containing higher-grade zones, and we’re going to be expanding the resource based on these drill intercepts. I think what’s important is—if you look at the drill hole location map we put out with our news release—it’s pretty self-explanatory that the zone is open to the south, open at depth, and it’s going to get to be considerably larger. Our strategy right now is to conduct additional drilling in there. We’ve just completed some surface trenches, and we expect some trench results in the next few weeks from that work. We’re hoping to find some additional encouragement with potentially higher grades there. We’ve been waiting about a year and a half to drill, and now that we’ve been able to start drilling we’re going to be making some pretty rapid progress. The delay was very frustrating, but I’m very anxious to move ahead.
“It’s unlikely that we will take the project to production,” Laskowski concludes, “but we’re in discussion with several companies about possible ventures that could lead to such a thing.”
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by Ted Niles