Two drill rigs are back in action on the Conserrat gold-silver project with E2 Metals (ASX: E2M) testing a mineralised shoot that was discovered just before Christmas.
The company says it will also focus this year on coming up with other discoveries.
In late December, E2 reported drilling at the Mia prospect within Conserrat had intersected a shoot 175m down hole which returned 4.1m at 1 gram per tonne gold and 644g/t silver, with the mineralised shoot being open in all directions.
E2 interpreted this intercept to be the new mineralised shoot at the intersection of the already identified Lara vein with a parallel structure.
Another hole 40 intersected two discrete mineralised structures.
One, over 2m, assayed at 43g/t gold and 9g/t silver, including 1.2m at a very high 72g/t gold and 14 g/t silver. Mineralisation began at 21m down hole.
This hole also returned 6.1m at 4.6g/t gold and 28g/t silver from 68m, including 1m at 26g/t gold and 88g/t silver.
In this latest program at the project, one diamond and a reverse circulation rig are operating.
Focus now on more discoveries
Late last year, managing director Todd Williams noted “The results of the two holes are significant as it shows high-grade mineralisation at Mia is completely open at depth and to the west”.
Today, Mr Williams said the company was pleased to be back in the field.
“The company is well funded for 2021 and is focused on making new discoveries at Mia and elsewhere within the project.”
Meanwhile, geophysical surveying has been completed at the Patricia prospect and has defined several “Mia-type” targets for scout drilling.
Gold and silver assay results from the Florencia and Emilia Este prospects, which have been delayed by the Christmas break, are expected to be received by the middle of this month.
Further, regional exploration is again under way across Conserrat with more geophysical surveys and surface sampling planned for the first quarter of 2021.
As described by E2, Conserrat, located in Santa Cruz province, is host to a greenfields gold and silver discovery centred 25km along strike from the Cerro Vanguardia silver-gold mined operated by AngloGold Ashanti (ASX: AGG).
Cerro Vanguardia is the largest epithermal vein field in the Santa Cruz province with historical and current resources estimated to be 8.9 million ounces of gold and 137Moz of silver.