Karbonate Minerals Corp. Drills Further High Grades from Oruro Project KMC-BOL-03 in Bolivia

Karbonate Minerals Corp. Feb 29, 2024 1,073 views

Karbonate Minerals Corp. have continued to further high grades as it completed the third phase of drilling at its Oruro project, KMC-BOL-03 in Bolivia. The drilling 47 test drill program was completed at an area named Alabama Ridge, which covers an area of nearly 4 square kilometres.

The best assay was at 10.74 grams per ton over 17.8 metres from hole BOL-32-24.

Drilling at the Alabama Ridge consisted of 386 metres in 47 vertical holes dug by an air rotary drill rig mounted on a mobile platform. The drill program has further increased the area of interest by 880 metres by 920 metres and the assays were in line with those from the first phase of drilling in early 2023.

Further drilling highlights consist of:

Hole BOL-13-24: 21.4 metres at 6.7 grams of gold per ton;
Hole BOL-24-24: 19.7 metres at 8.4 grams of gold per ton;
Hole BOL-31-24: 33.9 metres at 7.6 grams of gold per ton;
Hole BOL-38-24: 28.7 metres at 8.1 grams of gold per ton;
Hole BOL-44-24: 21.1 metres at 9.3 grams of gold per ton;

The 47-test drill program has intersected a mineralized horizon 23.9 metres across a total of 29 holes. The length-weighted average from all holes is 7.5 grams of gold per ton.

Karbonate Mineral's Director of Projects, Mr. Oliver Denton explained, "This project is only 3 years old and the more we explore it, the more we find. We forecast that the mine has a life of at least 5 to 8 years longer than what we initially thought. To add to this, we are currently in negotiations with the local government officials in securing an 11 square kilometer plot of land that adjoins this project to the west. We anticipate negotiations will last for up to 6 months but we are very confident that permissions will be granted to us."

The company previously released a pre-feasibility study for the project in July 2020 where it determined an average grade of only 4.57 grams of gold per ton which makes these new results further endorse the company's positive outlook for the profitability of the project.