E2 Metals announced the first gold and silver assay results for the
recent drill program at the Mia prospect at its Conserrat project in the Santa Cruz province of Argentina.
The highlight intercepts include 18m intersection grading at 47 grams per tonne gold and 208g/t silver starting from a depth of 66m, including 1m at 424g/t gold and 1,489g/t silver from 68m.
The hole is located 50m southeast of previously reported high-grade mineralisation in hole CORC-36, which returned 8m at 7.64gpt Au, 216gpt Ag.
“This intercept confirms Mia to be a genuine new greenfields discovery. Preliminary interpretations suggest bonanza mineralisation is controlled by the intersection of east-west and northwest veins and structures. True thickness is not yet known,” the company said in a press release.
E2 Metals’ stock was trading up 273% at Wednesday’s close on the ASX. The company has a A$77 million market capitalization.
Conserrat is centred 15km along trend from AngloGold Ashanti’s world-class Cerro Vanguardia gold and silver mine, current and historical reserves of 8.9Moz Au, 137Moz Ag.
“The recent drill results at Mia exceed our expectations and compare with the best gold and silver epithermal vein systems globally with respect to the grades and thickness,” said E2 Metals managing director Todd Williams. “The depth to mineralisation provides further encouragement being only 50 vertical meters below the surface.”
“This is a watershed moment for E2 Metals that confirms the outstanding potential of the Conserrat project, with many Mia-style vein targets still to test.”