Promesa hits oxide zone in second hole at Cerro Curunday gold project in Peru

Promesa (ASX: PRA) has completed drilling its second diamond hole at the Cerro Curunday gold project to a depth of 335 metres, hitting the oxide zone and pushing through to the primary sulphide zone.

The initially targeted oxide zone was reached a depth of 200.5 metres, and following this drilling then progressed and intersected the top of the sulphide zone to test the potential for epithermal mineralisation and structure.

The anticipation is building at the project located in the La Libertad Province of Peru, where drilling is part of a 6,000 metres Phase One program.  The Cerro Curunday epithermal gold project is  similar and near to Lagunas Norte, Barrick's (NYSE: ABX) 9 million ounce gold project.

The program is aiming to test a series of gold-bearing zones in “elephant country” in Peru, identified by channel and rock chip sampling along a 2.1 kilometre strike length of epithermal gold mineralisation.

All drilling is being undertaken using diamond drilling from surface to enable detailed logging and sampling.

Due to drilling continuing beyond the initial target depth of 200 metres, the second drill hole took slightly longer than forecast.

Highly fractured ground conditions were encountered similar to the first drill hole, resulting in additional water being required for drilling.

Further supplemental water sources have been established for the drill program, as well as the completion of a review of drilling practices on site to optimise the mud weights.

The mineral assemblage encountered by drilling represents an important feature for the extension of the epithermal zone into the porphyry environment. These preliminarily observations confirm the original modelling of the mineralisation.

Currently core is being logged, cut and sampled with samples being sent to Lima for testing. Assay results are expected once QAQC procedures and checks have been completed.

Field level exploration and sampling around the Cerro Curunday and La Haucas project area is also progressing.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/21270/promesa-hits-oxide-zone-in-second-hole-at-cerro-curunday-gold-project-in-peru-21270.html