Monterey Minerals (CSE: MREY) has completed its previously announced ten hole drill program at its flagship Alicia high-grade gold project located in the Phillipines. The program saw the ten holes drilled for a total 2,074 metres, with preliminary data confirming the targeted epithermal vein structures were intersected within all ten holes.
The drill program was conducted from October through to December at the property, with results from the program expected to be returned within the first quarter of 2021. Holes varied in depth, with the shallowest being 150 metres in length at hole six, while the deepest hole was drilled to 318.8 metres. The reported average drill depth was just over 200 metres.
The program conducted was focused on testing the strike and down dip potential of the epithermal vein system, with the Pamaraw, Baloy and Sandi veins being the primary targets. While focused on gold discoveries, the company indicated that copper sulphides were discovered in the final hole, which may be the rest of telescoping.
Future work slated for 2021, while yet to be fully outlined, has hinted at further work to identify further signs of telescoping of the system, while also examining current and historic drill cores for signs of copper porphyry veinlets. Mapping is to also be completed to determine if there is any significant areas of such alterations.
Monterey Minerals last traded at $0.03 on the CSE.
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