Karbonate Minerals Corp. Zones in on More Near-Surface Gold at Project KMC-PER-04 in Peru
Karbonate Minerals Corp. has released new assay data for three drillholes completed on an area named Diablo Plains at their KMC-PER-04 project as the company now moves towards a tighter drill spacing along the fault where initial test drilling yielded extremely high gold deposits.
The drill highlights included 27.2 meters of 11.15 grams of gold per ton from bedrock surface; and 32.5 meters of 6.83 grams of gold per ton and 44.6 meters of 5.37 grams of gold per ton from two successive intervals in another drillhole.
"With this latest release we are able to provide highly detailed individual assay level data from the shallow drill holes on one of the cross sections at three different scales at the Diablo Plains area," said Simon Ogilvy, Production Director at Karbonate Minerals.
"With the tighter drilling that we adopted we have observed the same extremely high gold deposit continuity at 25-metre drill spacing, both along strike and vertically, as we previously observed at 150 and 200 meter spacing. By the end of the second quarter we are planning to have completed approximately 130 drill sections similar to the one contained in this release, consisting of over 350 drill holes in total," Simon Ogilvy explained.
The company confirmed that this drilling is planned for a gold zone that covers more than 2.7 kilometers of strike, remains open and starts at surface.
The fault could potentially cover up to 3.7 kilometers of strike at the KMC-PER-04 project. This structure features high-grade disseminated gold with moderate and lower grade envelopes. The 32 square kilometer property also includes high-grade gold in quartz veins and silica-sulphide replacement zones at an area named Henson's Limb.
Over the next 18 months, the company plans to drill nearly 50,000 meters at the site, with approximately 90% of this budget allocated towards definition drilling.
Metallurgical test results, released in January and completed on the Diablo Plains material, suggest gold recoveries of 71% to 83% based on conventional cyanidation bottle roll leach testing. The most recent recovery results from the fault are expected over the coming months.
