Greystar Resources (TSX, AIM: GSL) released initial assay results from the ongoing drilling programme on its Angostura gold-silver deposit in north-eastern Colombia. Drilling targeted high grade mineralization at the Los Laches area of the deposit. The results highlights included an intersection of 86 metres grading 2.92 grams per tonne gold.
The Los Laches area is structurally complex, influenced by the intersection of the Romeral, Paez, and Pozo faults with the Silencio and Los Laches vein systems. According to Greystar, the combination of intersecting structures and structural damming has resulted in high grade gold and silver mineralization. The mineralization has been drilled vertically over 400 meters, which indicates the potential for continuity of the high grade structures at depth, Greystar said.
The exploration company will continue further drilling to test the western strike extension of the Los Laches high grade mineralization in the direction of the La Alta East area where the El Pozo fault is an important focus of mineralization. Greystar said it will also test the high grade mineralized structures at depth, with two rigs currently drilling Los Laches.
The wholly owned, multi-million ounce Angostura gold-silver deposit is the company’s main project, where Greystar is currently working towards the completion of a feasibility study. According to March 2009’s prefeasibility study the company envisions average annual production of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life. http://www.proactiveinvestors.co.uk/companies/news/12465/greystar-resources-drilling-at-angostura-in-columbia-cuts-86-metres-grading-292-gt-gold-12465.html
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