Friday, 10 February 2012

Quia Resources unveils more drill results from San Lucas, plans another 5,000 metres in H1

Quia Resources (CVE:QIA) unveiled Thursday further drill results from its San Lucas project in Colombia, and provided an update to its 2012 exploration plans.
Highlights from holes 8 through 14 from the company's ongoing phase one drill program included 12.5 metres of 0.22 grams per tonne (g/t) of gold in hole SL1109; 4.5 metres of 1.50 g/t gold in hole SL1110; and 15.2 metres of 0.27 g/t gold in hole SL1112.
In addition, hole SL1114A intersected 3.85 metres of 0.52 g/t gold.
The company said the drilling to date has established a disseminated gold system at the La Colina anomaly that is potentially continuous over at least 800 metres in strike, representing "significant scale" potential for this system, and generally in the area.
Quia also said the system appears to be getting wider both at depth and to the southwest, also appearing to be increasingly higher grade to the southwest. It remains open in all directions and at depth.
The last hole completed in 2011, SL1114A, encountered a wide zone of strong silicic alteration and fracturing between 61.5 metres and 97 metres before the hole was shut down due to difficult drilling conditions. Sections of this zone carried up to 4% pyrite, 7% jarosite, 5% hematite, 3% goethite and 4% quartz in veinlets, indicating a later hydrothermal event, the company added.
"Holes 8 through 14 have provided us with valuable information regarding the geology, control and origin of the gold mineralization in the area," said CEO, Yannis Banks.
"In particular, hole SL1114A demonstrated a strong system of alteration with disseminated sulphide mineralization and a wide zone of quartz veining that represent the right conditions for a disseminated gold system.
"This later hydrothermal event appears to trend south and converge with the Rueda South and Durmiente targets. The drilling will now focus on these target areas vectoring in on the source of the mineralization."
Indeed, the company said drilling is now moving to the south and south-east where these trends converge in the Rueda South and Durmiente target areas.
Hole SL1109 was drilled at the north end of the La Colina target, while holes SL1110 and SL1112 through SL1114A were drilled in the 'Platform H' area, which is around 800 metres south of the north zone.
To date, about 3,150 metres of drilling has been completed at the project, and the company is planning to drill another 5,000 metres in the first and second quarter of this year, for a total of roughly 8,000 metres in the phase one drill program.
Quia Resources is a gold exploration company focused in Colombia. The San Lucas gold belt is among the least explored and most prospective gold belts in Colombia.

No comments:

Post a Comment