“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, but we’re in discussion with several companies about possible ventures that could lead to such a thing.”
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