COSE prospect delivers more bonanza gold and silver for Patagonia Gold

South American focused gold explorer and developer Patagonia Gold (AIM: PGD) reported more exceptionally high grade results from ongoing drilling at the Cap-Oeste gold-silver project in Argentina’s Santa Cruz province.  Santa Cruz has become a hot bed of exploration activity in recent years thanks to several discoveries in the province and a supportive mining code.
Results released this morning emanated from the COSE prospect - one of two targets identified by the company in 2009 in close proximity to the Cap-Oeste deposit, which contains a 43-101 compliant indicated resource of 149,842 ounces (oz) gold and approximately 3.65 million oz silver with average grades of 1.44g/t Au and 35.15g/t Ag, plus inferred resources of 154,257oz Au and 3.28 million oz Ag with average grades of 1.42g/t Au and 30.16g/t Au.
The company said this morning that drilling at COSE continued to intercept bonanza grades of gold and silver. The highlight of the results today was drill hole 27 which intersected 13.93m at 159.23 g/t Au and 627 g/t Ag from 214 meters, including 1.6 meters grading an eye-watering 1,284.15 g/t Au and 3,977 g/t Ag. COSE sits approximately 2 kilometers to the south-east and along strike from Cap-Oeste.
This is not the first time Patagonia Gold has intersected bonanza grades at depth at COSE. In December, the company reported 4.1 meters at 561.6 g/t Au and 28,523 g/t Au – from 208.3 meters down drill hole CSE-13. Within the 4.1 meter zone, Patagonia reported an exceptional intercept of 0.85 meters at 2,104.6 g/t Au and 107,648 g/t Ag.
The London headquartered gold junior reported assay results from seven holes in total this morning. The remaining six holes intersected gold and silver mineralisation intervals between 0.9 meters and 13.83 meters with grades varying from 4.56 g/t to 80.1 g/t gold and silver grades of between 163-4391 g/t.  All mineralised zones were intersected between 151 meters and 270 meters.
Since October 2009, Patagonia has completed 33 holes at COSE, or 7,534 meters.  Drilling continues.

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