Toachi Mining (TIM:TSX-V)
The company reported results from its on-going drill program at La Plata, a gold-rich volcanogenic massive sulphide (“VMS”) project in Ecuador. A first phase metallurgical optimisation programme has also been initiated.
- Hole CMLP-16-14: 15.89m@7.63 g/t Au, 49.74g/t Ag, 2.40% Cu, 11.82%Zn an 0.97%Pb from 135.57m.
- Included within this zone is a higher grading interval of 2.96m@10.17g/t Au, 48.09 g/t Ag, 4.13% Cu, 26.78% Zn and 0.70% Pb from 140.21 m.
The drilling program was designed to validate the historic drilling database, for completion of a NI 43-101 compliant resource estimate in 2017.
Nick Tintor, President and CEO said: “Our drilling is continuing to outline high grade mineralisation at La Plata. Testing the potential for outlining high grade near surface mineralisation amenable to open pit mining, will be one of our objectives for the coming year.”
More than 14 exploration targets have been identified by Toachi’s exploration team which extends over 9km of property concessions, attesting to the potential of an emerging district.