Karbonate Minerals Corp. Continues to Hit Shallow High-Grade Gold at Their Dolly Fault in Ayacucho, Peru

Karbonate Minerals Corp. has released assay results for 18 test holes drilled into the Dolly Fault at the KMC-PER-04 project in Ayacucho, Peru.

The recent announcement includes results for 13 holes drilled along 120 meters of strike, with sections spaced 30 to 60 meters apart. It also includes results for 5 widely spaced holes completed along 450 meters of strike, located 300 to 750 meters northwest of the fault.

Highlights from the shallow drill intercepts include 32.1 meters of 1.87 grams of gold per ton, 81 meters of 1.77 grams of gold per ton, and 19 meters of 3.68 grams of gold per ton. Deeper intercepts revealed 51.2 meters of 1.11 grams of gold per ton, 21.7 meters of 2.13 grams of gold per ton, and 31.1 meters of 2.01 grams of gold per ton.

The company reported that high-grade and bulk-tonnage style gold intercepts were encountered at all sections and depths, demonstrating excellent continuity of the mineralized zone on the tight drill spacings.

The 5 widely spaced drill holes also returned significant intercepts, including 24.7 meters of 1.52 grams of gold per ton, 31.1 meters of 2.91 grams of gold per ton, and 52.6 meters of 1.88 grams of gold per ton. This drilling demonstrated similar high-grade and bulk tonnage-type gold mineralization on all sections, from bedrock surface to approximately 420 vertical meters.

Simon Ogilvy, Production Director at Karbonate Minerals Corp., expressed excitement about the continuity of gold mineralization observed with the higher-density drilling. The company plans to invest $11 million in an exploration program at the site over the next 4 years, aiming to drill over 100,000 meters. They expect to complete up to 300 holes into the Dolly Fault structure by the end of 2023, with approximately 200 drill hole results already published.