Drilling on the Kaburi-Eldorado project in Guyana has confirmed the continuation of the Hicks gold zone along strike and to depth.
Cathedral Gold (TSE), which can earn up to a 90% interest in the property, recently drilled an additional 10 holes.
Drilling and surface trenching have outlined the steeply dipping zone over a strike length of 1,600 metres and a vertical depth of up to 170 metres. Work is continuing in the form of stepout drilling on strike and to depth, and drillers are now concentrating on the northern end of the zone where some of the higher-grade results were encountered. The area has returned several intersections grading more than 6 grams gold per tonne, including Hole 94-17 which intersected 3.5 metres grading 40.4 grams.
Cathedral President Michael Jones said long-term plans include infill drilling, which should enable the company to calculate a reserve estimate by the end of the year.
Exploration work, including detailed trenching, is also under way in the Eldorado Pit area, about 2 km north of Hicks. Previous sampling returned up to 8.6 grams gold while surface mapping and prospecting 1.3 km along strike from Eldorado returned values of up to 25.7 grams gold.
Cathedral’s expenditures at Kaburi-Eldorado now total US$1 million and Jones expects to spend an additional US$4 million in the next 18 months. Drill results from the Hicks zone are highlighted below:
Hole Grid North Interval Width Grade Vertical Depth
(m) (m) (m) (g/tonne) (m)
11 9270 107.0-109.5 2.5 4.25 74
140.5-142.0 1.5 1.43 100
147.0-147.5 0.5 4.39 104
12 9680 184.4-190.0 5.6 1.42 132
208.0-209.0 1.0 3.11 147
13 9780 172.1-174.0 1.9 1.14 122
185.0-187.8 2.8 0.58 132
198.0-202.0 4.0 6.88 140
14 9880 157.9-160.0 2.1 3.04 112
179.0-187.0 8.0 3.77 129
187.0-198.3 11.3 1.40 136
15 9970 233.0-236.5 3.5 1.76 170
16 10070 203.6-204.6 1.0 1.13 140
17 10160 186.5-190.0 3.5 40.42 135
196.0-197.5 1.5 4.56 145
204.0-214.0 10.0 3.10 150
18 10360 assays pending
19 10540 96.0-101.0 5.0 2.31 70
108.0-110.0 2.0 2.50 75
20 10450 202.7-205.0 2.3 3.29 140
207.3-208.5 1.2 1.77 142
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