Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) has announced that diamond drilling on the northern margin of the proposed pit shell of the multi-million ounce Angostura deposit in northeastern Colombia has returned some of the highest gold-silver grades encountered to date.
The latest results from the Cristo Rey area, which marks the current northern limit of the Angostura deposit, included 189.5 g/t gold and 701 g/t silver over 1.5 metres in hole CR10-05, 6.89 g/t gold and 85.4 g/t silver over 1.6 metre in hole CR10-04 and 12.45 g/t gold and 96.7 g/t silver over 1 metre in hole CR10-02. These significant intercepts confirm the presence of mineralization along strike and down dip in the northern limit of proposed Angostura pit.
"Both exploration and delineation drilling in 2010 continued to show potential for further economic enhancements of the Angostura deposit as evidenced by the latest drill results from Cristo Rey," states Greystar's Executive Vice President, Frederick Felder, P.Geo. "Drilling is also targeting higher-grade mineralization in the Silencio area on the southern margin of the deposit, as well as in the Los Laches area to the northeast."
Previous reported drill holes intersecting the same structure in the Cristo Rey area during 2006 and 2008 contained 74 g/t gold and 167 g/t silver over 3 metres (CR06-03), 10.7 g/t gold and 219 g/t silver over 1.5 metres (VBE06-39), 14.95 g/t gold and 134 g/t silver over 0.7 metres (CR06-04), 8.98 g/t gold and 75 g/t silver over 1.3 metres (VBE06-23) and 4.84 g/t gold and 38 g/t silver over 12.8 metres (CR08-04).
Mineralization in the Cristo Rey area is similar in style to the Veta de Barro area immediately to the south where higher grade structures have considerable strike extent, and although relatively narrow the structures have much higher grades than in the core of the deposit.
A total of 3,524 meters of core has been drilled at Cristo Rey, and additional drilling will be carried out to further test the higher grade mineralized structures at depth and along strike. Currently drill rigs are working at Silencio, Los Laches, Mongora and La Plata.
Down hole width, not corrected but based on drill holes and structural dip of the mineralization, the intervals vary from 67 to 92% of the true thickness of the structures.
Review by Qualified Person, Quality Control and Reports
The Company employs a quality control program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. Under these quality assurance measures, drill core is sawn into halves with one half of the core prepped on site and samples shipped to ALS-Chemex Laboratory (ISO 9002 registered) in Vancouver, B.C. for analysis. The remainder of the core is retained for future assay verification. Gold analysis is conducted by fire assay (one assay tonne) using an atomic absorption finish. The laboratory re-assays using the ALS-Chemex protocol, and additional checks may be run on anomalous values. Greystar has independent re-analysis and sample preparation checks run at other accredited laboratories. The Company also introduces background blanks prepared from previously analyzed core samples from the Angostura Project.
The above information has been reviewed and approved by Mr. Frederick Felder, P.Geo., a "qualified person" as that term is defined in National Instrument 43-101 and Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in respect of AIM companies, which outline standards of disclosure of mineral projects. Mr. Felder is a geologist with more than 40 years of industry experience and a member in good standing with the Association of Professional Engineers and Geoscientists of British Colombia.
Source: Greystar Resources Ltd.