Patagonia Gold pleased with Zona 13 drilling results

7th Nov 2016 10:41

(ShareCast News) - Patagonia Gold said it is pleased with the results from its first drill programme in Zona 13 within the Chamizo exploration area, Uruguay.It said the grade and thickness of the mineralisation intersected on the main shear to date were very encouraging."With a potential strike extent of over 3.5 km, Zona 13 is looking like it has the potential to develop into an important asset in our property portfolio," said chief executive Christopher van Tienhoven."We look forward to continuing work on Zona 13 and the adjacent properties within the project area," van Tienhoven said in a statement.Patagonia said eight of the nine holes intersected mineralisation.It added that significant intercepts were reported in five of the eight mineralised intervals, including CHDD-002 15.5 metres @ 1.38 g/t Au and CHDD-004 16.2 metres @ 1.72 g/t Au.In sum there was more than 3.5 km of mineralised structure identified, with only 900 metres of strike drilled to date at Zona 13, open in all directions."Geophysical surveys have proven to accurately define the mineralised structure beneath post-mineralisation cover," the company said.At about 11:03 GMT, shares in Patagonia were up 4% to 3.25p.