CuOro Resources has mobilized the first of the three drill rigs for the phase I diamond drilling program at its Santa Elena property in Colombia. The company is expecting the arrival of the second and third drill rig successively in August and October and may possibly take around six to seven months for this phase I drilling completion.
The phase I program has been scheduled to drill 68 holes at different depths from 70 to 600 m with spacing from 100 m to 150 m along the north axis of the TEM anomaly that expands around 900 m north-south by 500 m east-west and stays open to the north direction.
The company is expecting to start the phase I drilling at the earliest when the rig mobilization is completed. The goal of the program is to outline the level of mineralization at depth of the Volcanogenic Massive Sulfide (VMS) outcrops and the TEM anomaly. The primary holes will be arranged analogous to the VMS outcropping formations called TEM 1 (El Azufral) and TEM 2 (El Arroyo). These holes will be drilled on a model and angled to 45° to cut the structures at different depths. The company has planned to examine the mineralization and geophysical anomaly at depth of the holes of up to 600 m drilled vertically on the VMS outcrops.
The CEO of CuOro has commented that the beginning of this phase I drill program is a significant milestone for the company and the initial results are pending.
The focus of the company is on the present exploration activities at the Santa Elena copper-gold project, wherein CuOro has an option to purchase a 100 % interest by means of periodic cash payments and cost of funding the work program.
Source: http://www.cuororesources.com/