Ecometals is speeding up its diamond drilling program at the Rio Zarza Gold Project in Southern Ecuador in view of field inspections by Expert Epithermal Consultant, Dr. Stuart Simmons.
The consultant’s main findings assist the exploration model of the company. These findings include artisanal alluvial mining of derived gold upstream from FdN displays gold resource in the project region, copious hydrothermal quartz float displaying banded layers and acid sulphate alteration that indicates shallow level epithermal mineralization, geochemically anomalous gold intervals and drill core indicator elements of 2010 program, same volcano-sedimentary basin as FdN, mineral groupings and textures of up to date geothermal systems similar to older epithermal type mineralization
Subsequent to Dr.Simmons’ suggestions, the company received approval for budget expansion to reach the accelerated drilling of additional deep basin targets that would start in this month.
Thus, total expenses in Ecuador including Rio Zarza will be approximately $4 m. The extended program will join another diamond drill rig having the capability of deep drilling of up to 1200 m. The planned 2011 exploration program is based on the collection of earlier data and will comprise comprehensive gravity survey to outline the block faulting formations in the Misahuallí-Suarez Basin, drill targeting depending on the IP Chargeability with more stress on resistivity, X-Ray Diffraction and thin section petrography for alteration mineral paragenesis and discovery and key focus at the deep drill targets in the Misahuallí-Suarez basin and sustained drill testing of shallow targets at the Zamora Batholith showing epithermal vein style mineralization.
Ecometals has recently completed three shallow holes to a target depth of 150 m to 200 m on IP resistivity and chargeability anomalies in the Zamora Batholith.
Samples for geochemical analysis have been sent to the ALS Chemex laboratory and results are anticipated by July end.