Drilling on the Cata Preta property in Brazil is returning gold values for Black Swan Gold Mines (TSE).
The company has already issued the property vendor 8 million shares under an option agreement to earn a half interest. The complete earn-in will cost US$1.2 million.
The first hole of a second phase of diamond drilling intersected 23.5 metres grading 15.8 grams gold per tonne, including a 2-metre interval grading 151.49 grams. The hole intersected the mineralized zone 20 metres downdip from an earlier program of 21 holes, which established a near-surface resource of 1.4 million tonnes grading 3.83 grams.
Black Swan expects to calculate a new resource estimate upon completion of the latest round of drilling.
Be the first to comment on "Cata Preta returns good gold values"