EHR Resources completes drilling at Rufina East, exploration at San Markito gold-silver prospect to start

EHR Resources ASX EHX Rufina East prospect La Victoria gold Peru Eloro Resources
Drilling is due to begin at the primary San Markito gold-silver prospect within EHR Resources’ La Victoria project in Peru.

EHR Resources (ASX: EHX) has completed drilling at the Rufina East prospect within the La Victoria gold project in Peru, with the program intersecting up to 3.71 grams per tonne gold, and permitting advancing to begin drilling the primary San Markito gold-silver prospect.

The company is securing a 25% stake in La Victoria under a joint venture agreement with Eloro Resources (TSXV: ELO) and has already earned 10%.

After completing three diamond drill holes for 1,242m at Rufina East, the joint venture stated the target area had been sufficiently tested.

Better results from the program were 1.40m at 3.71g/t gold from 367m, 0.60m at 3g/t gold from 105.7m and 1.3m at 1.33g/t gold from 88.3m.

All reconnaissance drill holes at Rufina have intersected “extensive zones of mineralisation and alteration”.

Additionally, more than 60 gold intervals have been unearthed from about 40 mineralised structures which EHR claims correlate with zones mapped at surface.

It is believed the Rufina gold strike is about 600m long and occurs over a 600m width.

Commenting on the results, EHR director Jeremy King said drilling at Rufina has provided the joint venture with “important data points in understanding the gold mineralised system at La Victoria”.

The next drill program will involve 2,000m at San Markito, with EHR noting that permitting for this drilling program was “well advanced”.

“San Markito has always represented the primary prospect within La Victoria and our joint venture partner is advancing permitting to enable drilling,” Mr King added.

Joint venture partner Eloro president Dr Bill Pearson affirmed Mr King saying San Markito was the best target zone identified at the property.

“Gold and silver mineralisation are found in an extensive symmetric alteration zone within both the favourable Chimu Formation sediments and dioritic intrusives,” Dr Pearson added.

“This target will be the focus of further drilling at La Victoria going forward,” he said.

A geological mapping and sampling program is due to begin shortly at San Markito, while the final drill permits are pending.

    Join Small Caps News

    Get notified of the latest news, events, and stock alerts.