Monday, 6 February 2012

PanTerra Gold drills for copper, molybdenum, gold at Vittoria prospect in Ecuador

PanTerra Gold (ASX: PGI) has commenced drilling on the Vittoria prospect, with 5,000 metres planned to test the 140 hectare anomaly.

Vittoria is one of six potential open pit mining prospects identified by Canadian geologists, Buscore Consulting, within the 2200 hectare San Gerardo concession.

Geochemical soil sampling at Vittoria identified elevated levels of copper, molybdenum and gold.

The initial drilling program is expected to be completed in about three months, with results to be published progressively after about two months.

A further 20,000 metre drilling program is planned, subject to the results of the initial drilling.

In the next two to three months a second diamond drill rig will be engaged, and employed on the nearby Azuay underground mining project.

Azuay comprises seven small-scale underground mining operations which will be expanded to produce a total of 300,000 tonnes of ore and 100,000 ounces of gold per year.

The Azuay project is at Feasibility stage.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24955/panterra-gold-drills-for-copper-molybdenum-gold-at-vittoria-prospect-in-ecuador-24955.html

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