Junior roundup: Guyana Goldstrike, Sable Resources, Silver Viper, Columbus Gold
Guyana Goldstrike reported initial assay results from one trench completed at the Toucan Ridge area at the Marudi gold project in Guyana.
The trench returned a weighted average of 1.38g/t gold over a length of 16.3m including 5.4g/t over 3m.
The area was trenched a total of 280m with 104 samples taken for fire assay, the company said in a statement.
Selected samples were re-assayed for total metallic content.
***
Sable Resources published results from two drill holes targeting the Margarita vein at the Margarita project in Chihuahua state, Mexico.
Highlights include one hole of 417g/t silver equivalent over 3.6m, including 707g/t silver equivalent over 1.0m, the company said in a press release.
The second hole returned 461g/t silver equivalent over 14.0m, including 859g/t silver equivalent over 2.0m.
***
Silver Viper Minerals said it has mobilized a camp building crew to the La Virginia gold-silver project in Mexico.
The camp and drill pad construction is currently underway and Silver Viper expects to begin drilling on a 5,000m initial campaign shortly, the company said.
***
Columbus Gold said that it has entered into an agreement with IAMGOLD to acquire up to a 70% interest in the Maripa gold project, in French Guiana.
The initial option to acquire a 50% interest involves incurring US$5mn in expenditures within five years of the effective date of the agreement, with Columbus acting as operator, the company said in a statement.
Following exercise of the first option, the parties may form a 50:50 joint venture, or if IAMGOLD elects not to participate in the JV, then Columbus may provide notice to IAMGOLD that it will aim to earn an additional 20% interest by completing a PFS in an additional three years.
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News in: Mining & Metals (French Guiana)
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