Perth based De Grey Mining (ASX:DEG) has signalled its intent to explore for gold and silver in one of the most prospective epithermal provinces, with an option to acquire the Pachi Project, in Santa Cruz Province, Argentina.
Already, De Grey has a large "footprint" in the highly prospective Deseado Massif of over 3,300 square kilometres, making it one of the largest tenement holders in this world-class gold-silver mining province.
The Pachi project covers 100 square kilometres and adjoins tenements of Toronto listed Hunt Mining’s (TSX: HMX) La Josephina and El Gateado prospects in Argentina, and covers interpreted extensions and repeats of structures that host mineralisation on those properties.
Tellingly for De Grey, Hunt Mining recently intersected a second wide interval of strong gold mineralization in the La Josefina Project with an intersection of 19.47 metres at 18.83 g/t gold, including 9.48 metres at 32.04 g/t gold, and 3.00 metres at 62.87 g/t gold.
Although early stage, Pachi features a silica-carbonate sinter horizon that subcrops over 800 metres strike on the property. Previous rock chip sampling of this horizon has returned up to 0.29g/t Au (with 58.7g/t Ag) and 68g/t Ag.
De Grey’s sampling has returned elevated levels of mercury (to 5000ppb), arsenic and manganese, demonstrating that the sinter represents the fossil outflow zone of an epithermal system that carried significant metals.
Terms of the agreement include escalating annual option fees with a first-year fee of US$24,200 and a commitment to drill at least 500 metres in the first year of the agreement.
Given close proximity to several advanced exploration projects and the indications of the preservation of high levels of an epithermal system, De Grey intends to rapidly advance exploration on the project.
Rheumax
Hab jetzt auch ´nen Hunt
Sogar ein ganzes Rudel..
Der Wert ist heut wieder mal sehr volatil, hat mit dem Abgreifen schön gepasst.