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Gold exploration company Solvista Gold (TSX-V: SVV, OTCQX: SVVZF) announced the assay results from the first two drill holes completed at its Caramanta Project in Colombia and to confirm a new, near surface, porphyry gold-copper discovery at El Retén. These results support the Company’s model for the Caramanta Project to host potentially large mineralizing systems and to generate new gold-copper porphyry discoveries in the Middle Cauca Belt of Colombia.
Highlights
Commenting on the drill results, Solvista’s President and CEO Miller O’Prey, stated “We are extremely pleased with these results from the first two drill holes at our El Retén target. The combination of long intercepts of porphyry-related gold-copper mineralization with very impressive grades beginning essentially at the surface has allowed us to confirm the El Retén porphyry system as the newest gold-copper discovery in the Middle Cauca Belt. We look forward to releasing more results from this and adjacent target areas over the coming months as we complete our Phase 1 8,000 metre drill program by the end of the first quarter of next year”.
The Caramanta Project is located at the center of the Middle Cauca Belt, one of the most prolific gold districts in Colombia, with production dating back to pre-Colonial times. It has also been the focus of intense exploration over the past five years with a number of exciting new discoveries including La Colosa (Anglogold Ashanti), a porphyry-gold deposit with a JORC-compliant Inferred resource of 24.15 Moz Au at 0.94g/t Au. Directly south of Caramanta is Gran Colombia Gold’s Marmato Project with NI 43-101 compliant Measured and Indicated resources of 12.4 Moz Au at 1.02g/t Au and Inferred Resources of 2.4 Moz Au at 1.1 g/t Au. To the north is Sunward Resources’ Titiribí deposit where a NI 43-101 compliant Measured and Indicated resource of 4.6 Moz Au at 0.52 g/t Au and Inferred resource of 6.4 Moz Au at 0.56 g/t Au have been announced.
