Patagonia Gold Corp. [PGDC-TSXV] reported results from exploration activities at its Abril property in the Santa Cruz province of Argentina. This program is the first drilling on Abril conducted by the company and the first since a small amount of core drilling conducted by the private company Minera Piuquenes in 2006.
Highlights: Assays up to 880 g/t silver from reverse circulation (RC) drilling in Q4 2022. See table in original press release.
Abril borders the company’s Martha property on the south and was optioned from Fomicruz.
A total of 1,384 metres of shallow, RC drilling were completed in the areas of mineralized channel samples. 53 RC holes completed and 1,368 samples collected.
Mineralization was encountered in 28 of the 53 RC holes. company exploration teams completed mapping, trenching and channel sampling of +12 km (strike length) of exposed epithermal veins and inferred extensions under post-mineral cover.
Epithermal veins were exposed on surface and in trenches are hosted in Chon Aike Formation (Jurassic age) volcanic rocks: similar to mineralization at the Company’s Martha property.
Over 240 metres continuous, channel samples collected, from 12 new tranches, with a portable diamond saw.
Christopher van Tienhoven, CEO, commented, “We are pleased with the analytical results from this first round of Company drilling at Abril. The proximity to our nearby Martha property and geologic similarity to mineralization at the Martha property makes Abril a compelling target. The best results from this round of exploratory drilling is just three km south of the Martha mill and flotation plant. We are now planning follow-up work, which may consist of additional prospecting and mapping, channel sampling and diamond drilling.”
Patagonia Gold is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 430 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa Cruz, Argentina.