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Greystar Hits 189.5 g/t Gold and 701 g/t Silver Over 1.5 Metres at Cristo Rey |
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Monday, 03 January 2011 12:06 |
Greystar Resources Ltd. announced that diamond drilling on the northern margin of the proposed pit shell of the multi-million ounce Angostura deposit in northeastern Colombia has returned some of the highest gold-silver grades encountered to date.
The latest results from the Cristo Rey area, which marks the current northern limit of the Angostura deposit, included 189.5 g/t gold and 701 g/t silver over 1.5 metres in hole CR10-05, 6.89 g/t gold and 85.4 g/t silver over 1.6 metres in hole CR10-04 and 12.45 g/t gold and 96.7 g/t silver over 1 metres in hole CR10-02. These significant intercepts confirm the presence of mineralization along strike and down dip in the northern limit of proposed Angostura pit.
"Both exploration and delineation drilling in 2010 continued to show potential for further economic enhancements of the Angostura deposit as evidenced by the latest drill results from Cristo Rey," states Greystar's Executive Vice President, Frederick Felder, P.Geo. "Drilling is also targeting higher-grade mineralization in the Silencio area on the southern margin of the deposit, as well as in the Los Laches area to the northeast."
Previous reported drill holes intersecting the same structure in the Cristo Rey area during 2006 and 2008 contained 74 g/t gold and 167 g/t silver over 3 metres (CR06-03), 10.7 g/t gold and 219 g/t silver over 1.5 metres (VBE06-39), 14.95 g/t gold and 134 g/t silver over 0.7 metres ( CR06-04), 8.98 g/t gold and 75 g/t silver over 1.3 metres (VBE06-23) and 4.84 g/t gold and 38 g/t silver over 12.8 metres (CR08-04).
Mineralization in the Cristo Rey area is similar in style to the Veta de Barro area immediately to the south where higher grade structures have considerable strike extent, and although relatively narrow the structures have much higher grades than in the core of the deposit.
A total of 3,524 metres of core has been drilled at Cristo Rey, and additional drilling will be carried out to further test the higher grade mineralized structures at depth and along strike. Currently drill rigs are working at Silencio, Los Laches, Mongora and La Plata.
The drill results from the 2010 Cristo Rey program are included in Table 1.
Table 1 -- 2010 Cristo Rey Drill Results | HOLE | FROM-TO | LENGTH
(metres) | Gold (g/t) | Silver (g/t) | Copper (%) | S (%) | | CR10-01 | 332.1 - 334 | 1.9 | 4.12 | 16.50 | 0.00 | 2.390 | | CR10-02 | 38 - 39 | 1 | 3.53 | 86.90 | 0.00 | 0.520 | | 74 - 75 | 1 | 12.45 | 96.70 | 0.01 | 3.020 | | 264 - 294 | 30 | 0.66 | 3.72 | 0.02 | 2.326 | | CR10-03 | 266 - 268 | 2 | 2.29 | 0.90 | 0.00 | 1.060 | | CR10-04 | 119.4 - 121 | 1.6 | 6.89 | 85.40 | 0.03 | 5.580 | | 334 - 336 | 2 | 2.85 | 1.10 | 0.00 | 1.890 | | CR10-05 | 184 - 186 | 2 | 8.78 | 90.10 | 0.01 | 4.850 | | 237 - 238.5 | 1.5 | 189.50 | 701.00 | 0.10 | 5.760 | | CR10-06 | 205.65 - 221 | 15.35 | 0.86 | 2.76 | 0.00 | 1.835 | | 387.75 - 401.1 | 13.35 | 1.12 | 5.10 | 0.02 | 2.657 | | 443.4 - 445 | 1.6 | 3.40 | 11.00 | 0.07 | 2.450 | | 539 - 540.5 | 1.5 | 5.36 | 40.90 | 0.05 | 1.790 | | CR10-07 | 268 - 270 | 2 | 5.72 | 25.90 | 0.02 | 4.780 | | 383 - 384.2 | 1.2 | 2.50 | 19.30 | 0.08 | 1.360 |
Down hole width, not corrected but based on drill holes and structural dip of the mineralization, the intervals vary from 67 to 92 % of the true thickness of the structures.
About Greystar Resources Ltd.
Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life.
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