THE BOURSE WHISPERER: Laconia Resources has received encouraging results from the company’s 100 per cent-owned Rasuhuilca gold-silver project in Peru.
Laconia has conducted a review of surface and underground channel sampling data, which has revealed an extension to a high-grade silver zone at the Rasuhuilca vein.
The recent activity has enabled the company to identify a range of additional target areas, which it considers to warrant follow-up exploration.
The work has entailed a comprehensive review of all existing and available data including high grade rock chip samples, channel sampling at surface and underground adits.
Throughout the review, which is ongoing, laconia said it was placing specific emphasis on the potential expansion of the existing resource at Rasuhuilca and the surrounding project area.
The Rasuhuilca project has a current Inferred Resource estimate of 360,000 tonnes at 1.97 grams per tonne gold and 179 grams per tonne silver.
“The western high-grade silver zone at the Rasuhuilca deposit lies 110 metres west of the main body of mineralisation,” laconia Resources said in its ASX announcement.
“Underground development from the main Rasuhuilca underground workings are already established (4890 Level), providing a location to drill test this western zone.
Results from surface sampling above 4962 Level Rasuhuilca West zone. Source: Company announcement
“The high-grade silver zone at the west end of the Rasuhuilca deposit has to date been subject to surface sampling and a single underground adit development.
“Only a small part of the zone has been tested sufficiently for inclusion in the existing inferred resource.”
Highlights from the recent work include:
– 1.5 metres at 11.68 grams per tonne gold and 236.74 grams per tonne silver;
– 1m at 3.64g/t gold and 330.19g/t silver; and
– 2m at 1.14g/t gold and 1,622.43g/t silver at surface.
Laconia has also identified a number of new exploration targets from historical exploration undertaken at the Marcelita veins and Elsa Breccia, located south east of the Rasuhuilca vein system.
Historical results include:
– 1.5m at 14.76g/t gold and 208g/t silver from Elsa Breccia;
– 1.5m at 22.80g/t gold and 45.20g/t silver from Elsa Breccia; and
– 3.5m at 6.53g/t gold and 244.66g/t silver from Veta Marcelita 2.
Laconia has a program of underground diamond drilling scheduled to commence in the fourth quarter of this year, subject to permitting.
It is also continuing with assessment of a 2008 Feasibility Study, which it anticipates to be updated following results of the underground drilling program.