South America-focused Quia Resources (CVE:QIA) Thursday announced further drill results from its San Lucas project in Colombia.
The company also provided an updated interpretation of the potential of the Guamoco district in the San Lucas gold belt.
Among the highlights of recent drilling, holes SL1215A and SL1217,
spaced approximately 290 metres apart along strike at Rueda South,
intersected 2.72 grams per tonne (g/t) gold over 2.85 metres including
5.87 g/t gold over 0.89 metres, and 7.35 g/t gold over 0.25 metres
Hole SL1217, the southern-most at Rueda, was drilled 1,300 metres
south-west and along strike from drill holes SL1102 and SL1103 at Rueda
North, which intersected 1.87 g/t gold over 1.5 metres and 3.46 g/t gold
over 0.6 metres at Rueda North, respectively.
"These results support our hypothesis that a large mesothermal gold
system is being discovered, whose closest analogue is the Frontino mine,
Colombia's largest historical producer located 70 km to the south of
us, which has reportedly produced over 5 million ounces," Quia's CEO
Yannis Banks said.
The drilling at Rueda establishes a second mesothermal system
(Libertad being the first) with potential continuity over a significant
strike length, known to contain high-grade zones based on previous chip
sampling in tunnels that reached as high as 2,342 g/t gold, Quia said.
The company said that four other north-east trending vein systems
with significant strike potential have been identified based on the
location of artisanal mines, underground sampling and geochemistry, in
addition to the north-south trending Libertad system, with the majority
of the property still to be explored.
Altogether the phase 1 program has demonstrated the potential for a
district-scale mesothermal gold discovery with further drilling, as well
as the porphyry potential of the area.
"These types of deposits are typified by occurrences of intense
nuggety mineralization with more diffused mineralization surrounding
them," Banks added.
"As we have progressed in our work at Rueda and Libertad, we have
demonstrated that both of these systems are potentially continuous over
significant strike lengths and which we know contain zones of bonanza
grade gold mineralization and visible gold based on our underground
"We believe that a large-scale drill program, which we are planning
following our phase 2 surface program, will define the broader
dimensions of the system and as drilling progresses the probability for
discovering high grade shoots within the system increases."
Quia is planning a phase 2 surface exploration program to better
define the Libertad and Durmiente targets as well as the other
significant mineralized trends that have been identified, and to
complete reconnaissance exploration over other parts of the property.
The company plans to follow the phase 2 surface program with a phase 2
drill program to focus on Libertad and Durmiente and potentially to
test other targets, subject to the results of the surface program.
In addition to mesothermal vein systems, the district is prospective
for porphyry deposits, and the company plans to incorporate both the
mesothermal and porphyry models into its exploration approach.
Quia Resources is a gold exploration company focused in Colombia and its 100 per cent owned San Lucas property in the San Lucas gold belt.
San Lucas is among the least explored and most prospective gold belts
in Colombia. The exploration completed to date has begun to define the
potential discovery of a new gold district in Colombia.