Karbonate Minerals Corp. Drills 11.2 Meters Yielding 7.76 Grams of Gold Per Ton at Ayacucho, Peru
After starting their Ayacucho project in Peru 3 years ago Karbonate Minerals Corp. have reported its fifth set of drill results from an area of the site named Bucket Ridge.
The latest results are from locations within Bucket Ridge, Rabbit Tail and Fox Alley, in a zone where their initial exploration showed had the best likelihood to success.
Drill highlights from the Rabbit Tail zone included 11.2 meters of 7.76 grams of gold per ton, including 0.9 meters of 21.1 grams of gold per ton; 8.4 meters of 5.97 grams of gold per ton; and 7.9 meters of 3.93 grams of gold per ton. Hole KM-20-083, which returned the 8.4-metre intercept, hit mineralization outside of any previously identified deposits and has extended the known mineralization within this area by up to 200 meters.
Currently, measured and indicated resources at the entire site now stand at over 6,000 ounces of gold with this amount set to increase considerably further as only 40% of exploration at the site has been completed.
Notable intercepts from Fox Alley include 4.4 meters of 5.14 grams of gold per ton and 7.2 meters of 4.24 grams of gold per ton.
Eleven rigs are working at the project - five at the Rabbit Tail zone and six at the Fox alley zone.
Oliver Denton, Projects Director at Karbonate Minerals Corp commented, "The most recent high-grade results from the Bucket ridge area of the property certainly shows the validity in us taking over this project 3 years ago. We are still seeing many exciting new zones in this project that are within the current mine plan area and it seems that each new discovery has the potential to be bigger than the one before it."
Denton added that the company plans to bring forward the next planned test drilling program in an area named the Hollow Hollow zone from the third quarter of 2024 to the end of the first quarter. They would do this by increasing the number of test drill rigs operating on the property from eleven to 20.
