A first-phase drilling program on the Pancho zone on the Refugio property owned 50% by Bema Gold (TSE) has outlined what the company believes is a second multimillion-ounce gold deposit on the Chilean project. The company has already outlined a preliminary reserve on the Verde deposit of 237 million tons grading 0.026 oz. gold per ton.
Drilling on the new zone, about half a mile along strike from the Verde deposit, outlined a preliminary reserve of 102 million tons grading 0.025 oz. gold at a 0.018-oz.-per-ton cutoff.
If a 0.020-oz. cutoff grade is used, the reserve is estimated at 75 million tons grading 0.029 oz.
The Pancho remains open to the northwest, southwest and to depth. The drilling program included 23 reverse circulation holes drilled to an average depth of 650 ft. for a total footage of 17,000 ft.
Bema is now considering a second-phase drilling program on the Pancho to further evaluate its potential.
The company is presently completing a final feasibility study on the Verde deposit scheduled for completion in early April.
Be the first to comment on "Bema expands Refugio potential"