Dear Investor,
A quick update on progress at La Golondrina in Colombia.
Underground saw-cut channel sampling and mapping has commenced in currently active tunnels. Follow this link to see a recent video (please click autoplay on the video menu; you can also find this video, receive regular updates and follow our progress on Facebook).
Current and historic underground workings at La Golondrina have focussed on high-grade generally shallow-dipping (although in some places dips exceed 60 degrees) coherent quartz veins hosted in tonalite (see sketch and photo’s in Fig 1). Previous sampling has returned gold grades in excess of 60g/t from these veins and visible coarse gold is quite common (see Fig 2). More recently, accessible underground workings have advanced into and across the contact of the tonalite with adjacent sedimentary rocks. This contact is complicated and marked by strong alteration (silica, pyrite, biotite, amphibole), quartz veins, vein zones, quartz and sulphide stockworks (see Fig 1). Such alteration is commonly known as metasomatic hornfels. At Golondrina we know that this hornfels contains some gold as; well frankly we can see it (Fig 2)! However, these recently exposed zones have not been systematically sampled so until we receive the results of our current channel sampling, just how much gold occurs in the hornfels is something of an important unknown.
On the surface a large proportion of the Golondrina project is covered by layers of recent volcanic ash, colluvium and soil (see Fig 3). Current and historic underground workings have focussed mostly on exposed and accessible veins only, leaving a significant amount of what we believe to be concealed and unexplored potential that can only be tested by drilling. Just a reminder that there has been no exploration drilling conducted at La Golondrina thus far.
We expect to receive the first results from underground channel sampling before the end of this year. This work, coupled with mapping, underground surveying of accessible tunnels and reprocessing of available geophysics, will help guide what we hope will be an exciting diamond drilling program which is planned for late Q1 next year.
Respectfully Yours,
Dr Tim Coughlin, President and CEO
Figure 1.
Figure 2.
Figure 3.
