First Centenera drill hole hits strong Cu/Au mineralisation at Esperanza
VANCOUVER (miningweekly.com) – The maiden drill hole at junior explorer Centenera Mining's Esperanza project, in Argentina, has hit strong copper and gold mineralisation from surface to about 166 m.
The Vancouver-based company reported the results of the first 166 m of the 387-m-deep drill hole 18-ESP-025, returning 166 m grading 0.84% copper and 0.36 g/t gold, or 1.14% copper equivalent.
Drilling was halted at 387 m owing to drilling difficulties, but results for the lower portion of the drill hole, from 166 m to 387 m, are pending and expected in early May.
"We acquired the Esperanza project in 2017 because drilling results in 2006 had provided such a solid foundation for further exploration. These first results from our drill programme demonstrate very clearly that the potential to expand mineralisation is real,” president and CEO Keith Henderson stated in a news release.
Drilling continues and drill hole 18-ESP-027 has been collared 100 m south of previous drill hole 06-HU-02 and is drilling on an azimuth of 285°. The purpose of the drill hole is to test the extent of mineralisation to the west and at depth, the company advised. The drill hole was collared in mineralised rock and is ongoing at about 250 m, with a final target depth of about 500 m.
The outcropping copper/gold porphyry mineralisation at Esperanza was first drill-tested in 2006/7 by seven drill holes totalling 2 011 m. All drill holes intersected significant copper/gold mineralisation, helping to shape the understanding of the ore deposit. To date, drilling has revealed an outcropping pyrite halo extending over a 1 400 m by 850 m area. Mineralisation is believed to remain open in all directions and evidence pointed towards strengthening grades the deeper the drill holes reach.
The result buoyed the company’s TSX-V-listed stock on Monday, to rise 5.56% to C$0.19 a share, and helped to drive year-to-date gains up 18.75% since the start of the year.
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