EHR Resources (ASX: EHX) has been given the green light to start drilling the Rufina gold target at its La Victoria project in Peru, with a diamond drill rig mobilised to site that will begin operating immediately.
The 4,000m diamond drilling campaign will test the Rufina and San Markito deposits where mineralisation has been identified during previous drilling.
EHR Resources is earning a 25% stake in La Victoria from Eloro Resources (TSXV: EHX), with the project operated under a joint venture.
A phase one drilling campaign was completed earlier this year and comprised 2,261m of reconnaissance drilling at Rufina.
Notable drill results from that campaign were 7.4m grading 3.46 grams per tonne gold, with a 3.4m interval comprising 7.31g/t gold.
Since then, follow-up geological surface mapping and sampling found what Eloro claims is a “major new gold zone” which has been called Rufina Eastern.
Almost 120 channel samples were taken from this zone with 10 samples assaying at more than 10g/t gold including a 0.80m sample that graded 27.24g/t gold.
Another 27 samples graded between 3g/t and 10g/t gold and a further 47 graded from 1g/t to 3g/t gold.
“We are continuing to advance our geological knowledge at La Victoria, which has resulted in outlining a significant new target area at Rufina that will be drilled in this next phase program,” Eloro chief executive officer Tom Larsen said.
“Drilling will commence immediately, initially at Rufina and then subsequently at San Markito,” Mr Larsen added.
Meanwhile, Eloro chief technical advisor Dr Bill Pearson said it was “likely” there were “multiple” epithermal gold systems across the project, but the joint venture was focussing its efforts on discovering the “sweet spots” that are more likely to lead to the discovery of a “significant gold deposit”.
“We have multiple drill targets to follow-up and continue to add more as field work progresses,” Dr Pearson added.
Drilling at San Markito, which is 2.7km north of Rufina will begin once permits have been received.