Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) reports that diamond drilling continues to encounter significant gold-silver-copper mineralization below and to the south of the oxide/transitional mineral resource on the multi-million ounce Angostura deposit in northeastern Colombia. Highlights include:
- Hole SI10-03, which intercepted 14.5 metres (85.3-99.8m) grading 9.7 grams gold, 62.39 grams silver and 0.33 per cent copper, establishes continuity of the higher-grade sulphide mineralization south of the oxide/transitional mineral resource in the Silencio Area.
- Hole SI10-02, which intercepted 5.0 metres (488.0-493m) grading 20.21 grams gold, 124.86 grams silver and 1 per cent copper, establishes the higher grade zone at depth in the Silencio Area.
- Hole QP010-07, which intercepted 1.65 metres (465.0-466.65m) grading 22.3 grams gold, 1,130 grams silver and 0.19 per cent copper, establishes continuity of the higher grade mineralization at depth in the Los Laches area.
- Hole QP010-05, which intercepted 8.55 metres (601.00-609.55m) grading 13.74 grams gold, 107.28 grams silver and 0.12 per cent copper, establishes that the higher grade zone is open at depth in the Los Laches area.
"These drill results demonstrate the potential of developing and expanding the significant higher-grade, underground resource at Angostura. Metallurgical test work to date has shown that this sulphide ore can be recovered through conventional processing technology with the prospects of generating revenues from the recoveries of the gold, silver and potentially copper," commented Steve Kesler, president and chief executive officer of Greystar.
"We look forward to compiling the results from the ongoing underground resource expansion drill program with a goal of establishing the economic potential of an underground only operation for the multi-million ounce Angostura deposit. The Company is continuing to work to find the best way to develop the Angostura deposit in an environmentally and socially responsible manner and that is fully compliant with Colombian legislation."
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