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Metminco hits lengthy gold intercepts at Tesorito in Colombia

Drilling has confirmed the existence of a gold-bearing porphyry at Tesorito
The gold intersections are from surface

The summary of quarterly activities for Metminco LTD (LON:MNC) showcases how busy the company has been. Among the highlights is the ongoing drilling at the Tesorito gold project in Colombia, where the presence of a gold-bearing porphyry has now been confirmed.

READ: Metminco shares jump as firm sets the drill rigs turning at Tesorito

The best gold grades from drilling so far include 179.8 metres grading 0.7 grams per tonne gold from the surface and 212.7 metres grading 0.39 grams, also from the surface.

Meanwhile, discussions are continuing with AngloGold Ashanti in relation to a farm-in or joint venture deal at Chuscal, and progress has been made to permit the Miraflores gold project.

All this work is being funded by the recent A$6.2mln equity raise, under the watchful eye of new management. It will be interesting to see how it all progresses.


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