Sendero Resources (TSX: SEND) is delivering results from a maiden drill program at its Penas Negras Project in Argentina. The company this morning released the results of the first three holes conducted under the program, reporting the intersect of significant intervals of mineralization.
Highlights from the results include:
- PNDH001: 0.08 g/t gold, 0.56 g/t silver, 0.09% copper, 22 ppm molybdenum (0.22 g/t gold equivalent) over 226 metres from 0 metres depth.
- PNDH002: 0.138 g/t gold, 0.05% copper, 24 ppm molybdenum (0.22 g/t gold equivalent) over 168 metres from 0 metres depth.
- PNDH003: 0.29 g/t gold, 0.78 g/t silver, 0.14% copper, 47 ppm molybdenum (0.53 g/t gold equivalent) over 256 metres from 84 metres depth.
The drill holes come from three separate zones at the Penas Negras Project, including the La Pena, Tamberias, and La Ollita zones. Drilling conducted at La Ollita, which includes hole PNDH003, is said to be in the process of confirming a large mineralized porphyry gold-copper system that has an advanced argillic epithermal lithocap.
Further drilling is ongoing at La Ollita, with four more holes conducted at the zone under the current drill program. The company believes the current system is at least 600 metres by 600 metres in size, with extensions of the zone to be tested in future drilling.
“We are delighted with the initial results from La Ollita in our maiden drilling program which confirms our thesis that La Ollita is a telescoped high-sulfidation epithermal/ porphyry system, like other major deposits in the Vicuña District, such as Filo del Sol, and with comparable grade to the resource grade at Josemaria,” commented Michael Wood, Executive Chairman of Sendero.
Sendero Resources last traded at $0.295 on the TSX Venture.
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