Baroyeca Gold & Silver Inc. [BGS-TSXV; BRYGF-OTC] reported the first assay results from its phase 2 drilling program at its flagship Atocha high-grade silver project in Tolima, Colombia. The company has completed the 1,500-metre phase 1 drilling program at La Ye and is now moving to a new target where chip samples collected in 2021 on outcropping veins returned values as high as 1,587, 1,426, 1,345 and 1,265 g/t silver equivalent (AgEq).
Raul Sanabria, PGeo, president of Baroyeca, commented: â€œWe are pleased to see more parallel structures following wide vein corridors in our first two holes drilled in this new area, another discovery on the Atocha property. Assay results of up to almost three quarters of a kilo per tonne silver equivalent makes a good start to the phase 2 program. The next drill holes will test the continuity of the structure along strike while we develop more drill targets to the south, where we found at least three more parallel vein zones within short distance.â€
The first hole of this phase 2 program (AT-22-20) intersected two stacked veins roughly 10 metres apart from each other. The upper vein zone returned 238 g/t AgEq over 0.25 metres as part of a 1.25-metre vein interval and the lower vein intersect returned 413.8 g/t silver (708.03 g/t AgEq) over 0.30 metres as part of a 1.30-metre-wide vein zone. The veins are hosted in amphibolitic to graphitic schist. Graphitic schist is the preferred host rock, showing pyritic alteration haloes around the veined zones. Drill core in the mineralized zones appeared very fractured due to a coincident faulted zone in the same zone of the veins and may had affected results due to washing and weathering.
Baroyeca drilled its second hole as a stepout toward the southwest following the same structure along strike and at shallow depth. This successfully intersected the same vein zones as intersected in hole AT-22-20 and was also affected by coincident faulting. The first vein zone is 1.5 m wide and shows sulphide oxidation in the upper half of the interval due to washing and weathering. The second 80-centimetre-wide vein shows a fault gouge in the upper faulted contact of the vein with the host rock. Assays are still pending for this hole. A third drill hole has just started as a stepout to the northeast of the two drilled to date in this new area.
Baroyecaâ€™s flagship asset is the high-grade Atocha silver-gold project. The company also holds an option to acquire a 100% interest in the Santa Barbara property, Bolivar Department, Colombia, which is renowned for its high-grade gold mineralization and vein density. Current exploration activities on the Santa Barbara property involve the bulk sampling of vein structures, which material then feeds into a trial production facility which has consistently been producing gold for over a year. The revenue from the sale of produced gold defrays part of the operating costs. The company is planning to expand these activities.