South American Gold and Copper Company Limited (TSX: SAG) reported today that it has started to drill its porphyry copper deposit at Pimenton.
Drill hole PP No. 1 will be drilled to a depth of approximately 600 meters and located 200 meters to the north of PM-DD-004 which was drilled by Rio Tinto to a total depth of 681 meters and encountered 279 meters of 0.4% copper and 0.43 grams per ton of gold.
PP No. 1 will be the second hole drilled by the Company utilizing its newly acquired diamond drill rig which is rated to drill to a total depth of 1,500 meters.
The first hole was drilled inside the Pimenton gold/copper mine to a length of 420 meters. Assay results from this first hole by an independent laboratory are expected within three weeks at which time they will be released.
The Company cautioned that PP No. 1 may be subject to the potential delays encountered when utilizing a brand new drill rig.
Dr. David R. S. Thomson, EVP of Exploration, a Qualified Person under NI 43-101, has reviewed and approved this News Release.
Source: South American Gold and Copper Company Limited