Commenting on the drill results, Solvista's President and CEO, Miller O'Prey, stated "We are very pleased to be announcing a third discovery at our third target within the Caramanta Porphyry Cluster. This latest discovery is in addition to our previously announced El Reten and El Corral discoveries. The fact that we have now confirmed discoveries at the first three targets drilled strengthens our belief that the Caramanta Project has the potential to host a number of significant new gold-copper porphyry discoveries, as well as other related styles of mineralization. We look forward to commencing drilling at Malabrigo and Casa Verde, our fourth and fifth porphyry targets within the CPC."
Drill hole CAD-1215 was drilled northwesterly from a platform located 1300 metres north- northeast of the original El Reten discovery platform and 400 metres northeast of the El Corral discovery platform (Figure 1). The diamond drill program was designed to test the northern end of a 700 metre x 390 metre surface gold and copper rock chip anomaly in an area characterized by porphyry-style alteration and mineralization of the Tamesis Stock, an older, coarse grained, equigranular intrusive body. This first drill hole, CAD-1215, encountered significant mineralization essentially from the surface with a continuously mineralized interval of 357.8 metres at 1.07 g/t AuEq (0.46 g/t Au, 5-0 g/t Ag, 0.30 % Cu and 35 ppm Mo), as illustrated in Figure 2. The mineralization encountered in drill hole CAD-1215, and in all other drill holes completed to-date at Ajiaco Sur, is typically somewhat more Cu-Mo rich than that discovered at El Reten and El Corral; for example in CAD-1215 an interval within the above mentioned 357.8 metres returned 0.46 % Cu over 76.9 metres, starting at 171.6 metres depth.
Drill hole CAD-1217 was drilled vertically from the same platform and also encountered significant mineralization essentially from the surface with a continuously mineralized interval of 108.3 metres 1.13 g/t AuEq (0.46 g/t Au, 6.1 g/t Ag, 0.29 % Cu) and 129 ppm Mo), including a 40.5 metre interval averaging 1.57 g/t AuEq (0.75 g/t Au, 7.6 g/t Ag, 0.35 % Cu and 174 ppm Mo) from 10.5 metres. The drill hole was abandoned well above the target depth for technical reasons.
Drill hole CAD-1219 was a re-drill of CAD-1217 and intersected 121.0 metres at 1.20 g/t AuEq (0.48 g/t Au, 7.2 g/t Ag, 0.31 % Cu and 121 ppm Mo) from 5.5 metres depth, including an upper interval of 28.5 metres which includes 248 ppm Mo - the highest grade Mo interval drilled to-date within the CPC, and several additional intervals of significant mineralization down to 493.0 metres, including a copper rich interval of 33.1 metres averaging 0.44 % Cu starting at 321.9 metres.
Drill hole CAD-1324 was drilled to the southwest from the same platform and encountered 291.7 metres averaging 1.10 g/t AuEq (0.44 g/t Au, 5.5 g/t Ag, 0.30 % Cu and 97 ppm Mo), including a copper-rich interval starting at 18 metres, which intersected 95 metres at 0.39 % Cu.
Drill hole CAD-1327 is the final drill hole completed at Ajiaco Sur to-date and was drilled to the northeast. It intersected 207.2 metres at 0.78 g/t AuEq (0.31 g/t Au, 4.0 g/t Ag, 0.21 % Cu and 79 ppm Mo), including an upper interval of 59.2 metres averaging 1.09 g/t AuEq, where Au (0.48 g/t) and Cu (0.23 %) have an almost equal weighting in the gold equivalent calculation, as well as containing significant Mo (185 ppm).
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