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Flagship Minerals Targets JORC-Compliant MRE for Pantanillo Gold Project

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By Colin Hay - 
Flagship Minerals ASX FLG JORC-Compliant MRE Pantanillo Gold Project
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Flagship Minerals (ASX: FLG) is becoming increasingly confident in the potential of its Pantanillo gold project in Chile, as it continues to take advantage of the dataset for the project it recently acquired from Anglo American Norte.

Historical data had already helped Flagship identify targets to fast-track the conversion of Pantanillo’s current foreign estimate of 1.05 million ounces into a JORC-compliant Mineral Resource Estimate (MRE).

The company’s ongoing studies have now identified a number of “compelling” down-dip opportunities, with the potential for an expansion of nearer surface mineralisation.

Extensive Historical Dataset

The historical dataset – which Flagship obtained from Anglo American Norte in August – contained information from 32,827 metres of drilling, including 13,949m of diamond core across 148 drill-holes and 2,151 samples.

Many of these holes contain broad intercepts ending in mineralisation, including 142m @ 0.74 grams per tonne gold from 58m to end of hole (EOH), and 192.6m @ 0.63g/t gold from 4m to EOH.

Flagship has further identified the potential for shallow higher grade zones, some containing silver, including 10m @ 2.90g/t gold and 16g/t silver from 35m.

The company has also acquired approximately 14,000m of diamond drill core from 48 holes at Pantanillo Norte, which along with assay pulps and reject samples from the previous diamond core and reverse circulation drilling, are now available for analysis.

Attractive Drill Targets

Managing director Paul Lock said Flagship had generated several additional and previously unpublished cross sections throughout the deposit, along with a collar and block model plan.

“These higher-grade zones are generally open at depth, providing attractive drill targets for down dip extensions, particularly in the central to eastern portions of the mineralised zone where we are seeing silver in association with higher grade gold,” he said.

“There also appears to be potential to define additional shallow mineralisation on the margins of the mineralised corridor.”

While the amount of detail provided by the dataset means Flagship will be able to increase the MRE without immediate drilling, it nevertheless continues to evaluate numerous high-priority exploration targets within the broader project area.