Comet Resources Releases Santa Teresa Resource

THE DRILL SERGEANT: Comet Resources (ASX: CRL) announced the results of an initial JORC code-compliant Mineral Resource estimate for the company’s Santa Teresa gold project in Baja California, Mexico.

The Inferred Mineral Resource estimate has come in at 369,000 tonnes at 7.47 grams per tonne gold for 88,600 ounces of gold.

Comet Resources indicated it intends using the knowledge gained from the completion of the Mineral Resource estimate to assist in planning for its upcoming drilling program at the Santa Teresa gold project.

“The initial JORC compliant Resource is the first step for Comet in moving forward with Santa Teresa,” Comet Resources managing director Matthew O’Kane said in the company’s announcement to the Australian Securities Exchange.

“Through this process we have increased our understanding of the mineralisation.

“It is also interesting to see the sensitivity of the resource to different top cap grades.

“With the Resource being open at depth and along strike, I am confident that we can extend mineralisation with the upcoming drilling.”