Highlander Silver (TSX: HSLV) this morning is reporting that a new discovery has been made at their San Luis gold-silver project in Peru following shallow drilling. The company has encountered high grade gold within the Bonita vein system, in a new zone referred to as Urpicha.
The discovery was made following step out drilling 200 metres to the west of hole BOD-003, which encountered 14.5 metres of 3.70 g/t gold and 17.47 g/t silver earlier this year at just 25.7 metres depth. Highlights from the latest results include:
- BOD-022: 23.4 metres of 11.7 g/t gold and 26.10 g/t silver from a depth of 13.5 metres in the Kusy zone
- BOD-023: 23.9 metres of 20.82 g/t gold and 31.53 g/t silver from a depth of 21.0 metres in the Kusy zone
- BOD-025: 27.0 metres of 5.28 g/t gold and 52.97 g/t silver from a depth of 2.3 metres within the Urpicha zone
The discovery of Urpicha is said to confirm the potential of the Bonita Vein system, with strong mineralization found near surface. Multiple parallel structures are said to still be untested, with the zone remaining open along strike.
Results from the phase one drill program conducted are being analyzed to identify permissive structural features across 5,000 hectares of claims that encompass the Bonita vein system, which is found 10 kilometres to the south of the Ayelen deposit. Data from the effort is then to be utilized for a phase two drill program in the new year.
Highlander Silver last traded at $4.15 on the TSX.
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