Core Gold Discovers High Grade Gold in Ecuador

By Dipo Olowookere

After its intensive trenching activities at the newly identified Linderos gold target within its emerging Dynasty District in Ecuador, Core Gold has announced high grade gold in the region.

The first 29 trenches at the Linderos epithermal gold prospect within the Dynasty District have yielded encouraging initial results including 21.00m at 18.51 g/t Au, 19.95m at 14.31 g/t Au, 18.20m at 14.74 g/t Au, and 2.00 m at 326.8 g/t Au.

Rock geochemistry and geological detail mapping indicate that the mineralized zone extends for 1,000 meters to the southeast adjacent to the area of trenching. Further trenching is ongoing with additional results due in early 2018.

The company said it has applied for bulk sampling and drilling permits and is aiming to drill and bulk sample Linderos in Q1 2018.

These results are from the first 29 trenches of a planned 60 trench program.

The 29 trenches were sampled over an area of 100m x 150m located within a larger 120m x 1,000m long brecciated shear zone defined by pervasive rock gold geochemical anomalies that have been confirmed by this initial trenching sampling program.

The trenches, which were dug no more than 2.5m deep, were extracted according to industry protocols, sampling the basement rock in a continuous and systematic method. Trenches were designed perpendicular to the shear zone. Sampling (810 samples) was executed across the oxidized quartz veins/structures as well as in the porphyry wall rock.

The Linderos target is a new discovery identified by Core Gold during its 2017 exploration efforts and has not undergone any previous trenching or historical drill testing.

The firm’s four contiguous Linderos Project concessions total 14,317 hectares and are located approximately 45 kilometers southwest of Core Gold’s Dynasty Goldfield project. Further assays from subsequent trenches are now pending and Core Gold plans to start drill testing at Linderos as soon as all the necessary permits are in place.

Keith Piggott, Chief Executive Officer of Core Gold commented: “The initial trenching high-grade gold results at the Linderos target and the overall size of the anomalous shear zone suggest that we are just beginning to test and understand the potential of a major discovery at Linderos. It is precisely this type of potential that attracted us to this large and undeveloped district to begin with and these initial results reinforce our thesis”.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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