Drill results from four gold targets on the Santa Clara concession in central Cuba are providing encouragement for CaribGold Resources (TSE).
The most significant intersection was encountered at Lote Grande (a prospect within the Pedro Barba structure), which averaged 22.56 grams gold per tonne over 7 metres. Gold values intersected in this phase of drilling were associated with massive sulphides. CaribGold believes this association may be important, as 206 airborne conductors were identified over the 25-km-long structure. The company has begun a ground follow-up program to prospect these anomalies for gold potential.
Elsewhere in Cuba, on the Camaguey concession, reconnaissance prospecting and soil sampling have identified anomalous gold areas. To date, rock samples have returned values of up to 16 grams. Follow-up soil sampling, trenching and shallow auger drilling are in progress.
Preliminary reports from recent airborne geophysical surveys are anticipated within the next few weeks, and diamond drilling is expected to begin on the Camaguey concession in January.
In the eastern Sierra Maestra, sampling is continuing in the Sigua sector. Several samples have returned values greater than 1 gram, with the highest sample yielding 40 grams. Induced-polarization surveys will be carried out in advance of diamond drilling.
Expenditures in the first year are within the $2-million exploration budget, and a further $2 million is budgeted for the second year.
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