Argus Metals has reported that chemical analyses has been obtained for three complete holes and partially of two further holes out of the 17 total reverse circulation (RC) holes drilled during the 2012 campaign at the Kaituma project situated in Northwest Guyana.
These drill holes did not encounter any significant mineralized uranium. The company is waiting for the assays of further 14 holes and portions of two partly announced drill holes and intersected low level mineralization, thus ruling out the prospective for outlining a bulk tonnage or low-grade uranium deposit located at Kaituma project.
Further drilling results may show more focused mineralized uranium at the project. The assays obtained so far indicate a positive development in certain rare earth elements (REEs) that include lanthanum and cerium together with anomalous grades of potassium and barium. After receiving and compiling all the assay data, more comprehensive chemical analyses will be needed to comment on anomalous elements.
In this drill program, the company did not examine the mineralized gold identified in “10 Mile” and “4 Mile” gold camps on the project’s southern border. A follow-up exploration campaign will be essential for the gold mineralization. Further gold target areas occur in the northern and central parts of the Kaituma West License and drill program did not test these targets.
Currently, the company will target the Hyland gold project located in Canada. This project has possibility for extension in and around the Main zone and towards the CUZ zone’s northern and southern parts.
Source: http://www.argusmetalscorp.com/
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