Cerrado Gold Inc. [CERT-TSXV] reported results from 14 drill holes from its continuing 12,000-metre exploration drill program at the Chulengo target at its Minera Don Nicolas Project in Santa Cruz province, Argentina.
The focus for the current program is to delineate new, high-grade, near-surface mineralization that can be brought into the production schedule in the near term. Results highlighted in this release are from 14 drill holes: PA-D21-51 through 63 and 65. Cerrado has completed 1,172 metres at Chulengo as of May 5, 2021. High-grade gold results from trenching at Chulengo are also reported.
Drill hole highlights (all composites are reported as true thickness). Drill hole PA-D21-57 returned 6.00 metres grading 5.5 g/t gold, starting from 48.80 metres, including 3.35 metres grading 8.98 g/t gold, from 48.80 metres. PA-D21-62 returned 2.65 metres of 118.04 g/t gold, starting from 15.65 metres, including 0.55 metres grading 565.98 g/t gold from 16.45 metres.
Hole PA-D21-63 returned 7.10 metres of 22.58 g/t gold, starting from 33.05 metres, including 4.25 metres grading 37.08 g/t gold, from 33.85 metres. PA-D21-65 returned 14.63 metres grading 5.05 g/t gold, starting from 1.10 metres, including 1.62 metres of 31.60 g/t gold from 13.80 metres.
Trench highlights (all composites are reported as true thickness). Trench PA-T21-018 returned 4.25 metres grading 10.08 g/t gold, starting from 27.95 metres, including 2.34 metres grading 19.83 g/t gold, from 30.00 metres. Trench PA-T21-023 returned 12.00 metres of 6.48 g/t gold, starting from 1.00 metres, including 6.00 metres grading 12.24 g/t gold, from 4.00 metres. Trench PA-T21-024 returned 5.61 metres of 11.75 g/t gold, starting from 16.00 metres, including 3.27 metres grading 18.49 g/t gold, from 17.00 metres.
Mark Brennan, CEO and co-chairman, commented: “We are very pleased the ongoing drill program continues to define the Chulengo target as a potential source of additional near-surface, high-grade material and fully expect the ongoing program to highlight the significant near-surface potential that remains at Minera Don Nicolas to enhance the current open-pit mine operations. Following the evaluation of these first-round assays, we will follow up with additional drill holes at Chulengo imminently.”
In mid-day trading, shares of Cerrado Gold gained 7 cents to $1.60 on a volume of 51,800 shares traded.