TORONTO, ONTARIO (TSX VENTURE: PGI) is pleased to report that
six additional infill drill-holes, TSD-124, TSD-125, TSD-126,
JSD-27, JSD-28 and JSD-29 have been competed while five holes,
TSD-127, TSD-128, JSD-30, JSD-31 and JSD-32 are currently in
progress at the Bayugo Project. In addition a deep-hole rig is
currently preparing to drill a deep deflected hole TSD-123A at the
Western Hypogene Zone.
Complete assay results of hole TSD-123, TSD-124, TSD-126 and
JSD-28 and partial results of holes TSD-127 are presented in the
following table. All quoted depths are measured in metres (m)
downhole, and all assay results have had a cut off of 0.1% copper
applied.
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Grades
Length of --------------------
Hole No. Final Depth Intercept Intercept Copper(%) Gold (g/t)
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TSD-123 1607m 241-1607m 1366m 0.29 0.34
692-764m 72m 0.42 0.57
954-996m 42m 0.53 0.67
1040-1052m 12m 1.05 1.14
1112-1238m 126m 0.53 0.67
1279-1319m 40m 0.48 0.70
TSD-124 1080m 379-1080m 701m 0.59 0.58
433-731m 298m 1.03 0.88
761-792m 31m 0.59 0.72
TSD-126 371m 177-371m 194m 0.00 0.00
JSD-28 690m 410-687m 277m 1.04 0.58
459-614m 155m 1.57 0.77
TSD-127 954m(i) 384-605m 221m 0.38 0.24
557-584m 27m 0.60 0.63
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(i) Hole in progress
"Holes TSD-124 and JSD-28 confirm the potential of the Bayugo
deposit to host significant high grade copper-gold porphyry
mineralization, but it will probably take two to three years for us
to prove the tonnage and grade of this deposit", said Company
Chairman, Walter Brown.
Detailed geologic information on holes TSD-123 to TSD-128 and
JSD-27 to JSD-32 follows:
TSD-123
The hole was collared at the site of TSD-111 and drilled
southwards at -75o to test the "Exotic Copper Zone" and extended to
test the deep seated Western Hypogene Zone at depth. The hole
intersected unaltered cover from collar to a depth of 246m.
From 246m to a depth of 1482m weakly to strongly potassic
altered and variably argillic overprinted, mineralised diorite
porphyry, diorite breccia and localized hydrothermal breccia was
intersected. The base of oxidation was noted at 410m and supergene
mineralisation comprises cuprite, limonite, chalcocite and native
copper. Hypogene sulphide mineralisation consists of chalcopyrite,
bornite and pyrite occurring as fracture fillings and within minor
quartz-magnetite-sulphide stockworks. The intensity of alteration,
mineralisation and quartz veining are increasing significantly with
depth, especially the zone from 850m to 1400m depth. Weakly altered
and mineralized inter-mineral Diorite Porphyry was intersected from
1482m to hole end at 1607m depth.
The hole intersected several dark grey, matrix supported
hydrothermal breccias from 851m to 940m and from 1020m to 1052m
depth. Clasts are dominantly cream-brown highly silicified and
intensely potassic altered diorite with abundant magnetite and host
quartz-bornite-magnetite-chalcopyrite veinlets. The matrix is
highly silicified, biotite-rich, containing abundant magnetite and
minor bornite and chalcopyrite. The source of the mineralised
hydrothermal breccia clasts and the hydrothermal matrix is presumed
to be a blind progenitor intrusive possibly topping out at
approximately 1100m depth to the west of hole TSD-123. A Navi-drill
deflection will be drilled from a depth of 950m westwards in an
attempt to locate the presumed progenitor porphyry.
TSD-124
The hole was collared 115m northeast of TSD-77 and drilled
westwards at -70o to test the high grade mineralisation within the
eastern portion of the Bayugo previously intercepted in TSD-122.
The hole intersected unaltered cover from collar to a depth of
378m.
From 378m to the final depth of 1080m moderately to strongly
potassic altered and variably argillic overprinted, mineralised
diorite porphyry was intersected. Intense quartz stockworks are
developed from 415m to a depth of 815m within a progenitor, diorite
porphyry. The base of oxidation was noted at 493m depth and
supergene mineralisation comprises hematite, cuprite, azurite,
malachite, chalcocite and native copper. Hypogene sulphide
mineralisation consists of chalcopyrite, bornite and pyrite
occurring as disseminations and within quartz-magnetite-sulphide
stockworks.
TSD-125
The hole was collared approximately 130m north of TSD-73 and
drilled northwards at -65o to test the northern extension of the
high grade zone within the eastern portion of the Bayugo Porphyry.
The hole intersected unaltered cover from collar to the final depth
of 220m. The hole was abandoned due to technical reasons in cover
while drilling in the overburden (or "cover").
TSD-126
The hole was collared approximately 100m northeast of TSD-60 and
drilled northwards at -70o to test the north east Boyongan
conceptual porphyry target. The hole intersected unaltered cover
from collar to a depth of 177m.
From 177m to the final depth of 371m variably argillic altered,
diorite porphyry was intersected. Minor sulphide mineralisation
comprises disseminated pyrite, tetrahedrite, chalcopyrite and
sphalerite. The hole failed to intersect any significant porphyry
copper-gold mineralisation.
TSD-127
The hole was collared 110m east of TSD-124 and drilled westwards
at -70o to test the high grade mineralisation within the eastern
portion of the Bayugo previously intercepted in TSD-124. The hole
intersected unaltered cover from collar to a depth of 384m.
From 384m to the current depth of 965m moderately to strongly
potassic altered and variably argillic overprinted, mineralised
diorite porphyry was intersected. The base of oxidation was noted
at 433m depth and supergene mineralisation comprises hematite,
cuprite, neotocite, pitch limonite, chalcocite and native copper.
Hypogene sulphide mineralisation consists of chalcopyrite, bornite
and pyrite occurring as disseminations and within
quartz-magnetite-sulphide stockworks. Drilling is in progress.
TSD-128
The hole was collared adjacent to hole TSD-125 and drilled
northwards at -65o to test the northern extension of the high grade
zone within the eastern portion of the Bayugo Porphyry. The hole
intersected unaltered cover from collar to the current depth of
238m. Drilling is in progress.
JSD-27
The hole was collared approximately 200m south of JSD-23 and
drilled northwards at -70o to test the southern extension of the
high grade zone within the Bayugo porphyry discovered in hole
JSD-23. The hole intersected unaltered cover from collar to the
final depth of 406m. The hole was abandoned due to technical
reasons in deep cover.
JSD-28
The hole was collared approximately 150m east of JSD-27 and
drilled northwards at -65o to test the southern extension of the
high grade zone within the Bayugo porphyry discovered in hole
JSD-23. The hole intersected unaltered cover from collar to a depth
of 410m.
From 410m to a depth of 690m moderately to strongly potassic
altered and variably argillic overprinted, mineralised diorite
porphyry and minor basalt was intersected. Intense quartz
stockworks are developed from 456m to a depth of 632m within a
progenitor, diorite porphyry. The base of oxidation was noted at
597m depth and supergene mineralisation comprises hematite,
cuprite, azurite, malachite, chalcocite, digenite and native
copper. Hypogene sulphide mineralisation consists of chalcopyrite,
bornite and pyrite occurring as disseminations and within
quartz-magnetite-sulphide stockworks. The hole was abandoned within
a major fault zone for technical reasons.
JSD-29
The hole was collared approximately 50m north of TSD-78 and
drilled northwards at -65o to test the southern extension of the
high grade zone within the Bayugo porphyry discovered in hole
TSD-78. The hole intersected unaltered cover from collar to the
final depth of 343m. The hole was abandoned due to technical
reasons in deep cover.
JSD-30
The hole was collared 100m east of JSD-26 and drilled northwards
at -80o to test the high grade mineralisation within the western
portion of the Bayugo previously intercepted in JSD-24. The hole
intersected unaltered cover from collar to a depth of 344m.
From 344m to the current depth of 826m moderately to strongly
potassic altered and variably argillic overprinted, mineralised
diorite porphyry and minor basalt was intersected. The base of
oxidation was noted at 477m depth and supergene mineralisation
comprises hematite, pitch limonite, chrysocolla, azurite, malachite
and native copper. Hypogene sulphide mineralisation consists of
chalcopyrite, rare bornite and pyrite occurring as disseminations
and within quartz-magnetite-sulphide stockworks. Drilling is in
progress.
JSD-31
The hole was collared adjacent to hole JSD-28 and drilled
northwards at -80o to test the southern extension of the high grade
mineralisation within the West Bayugo zone intersected in hole
JSD-28. The hole intersected unaltered cover from collar a depth of
367m.
From 367m to the current depth of 655m moderately potassic
altered and strongly argillic overprinted, mineralised diorite
porphyry and minor basalt was intersected. Intense quartz
stockworks are developed from 394m to a depth of 577m within a
progenitor, diorite porphyry. The base of oxidation was noted at
522m depth and supergene mineralisation comprises hematite,
neotocite, cuprite, chalcocite and native copper. Hypogene sulphide
mineralisation consists of chalcopyrite, bornite and pyrite
occurring as disseminations and within quartz-magnetite-sulphide
stockworks. Drilling is in progress
JSD-32
The hole was collared adjacent to hole JSD-29 and drilled
northwards at -65o to test the southern extension of the high grade
zone within the Bayugo porphyry discovered in hole TSD-78. The hole
intersected unaltered cover from collar to the current depth of
82m. Drilling is in progress.
All assays were conducted on intervals of split core, on average
three metres in length, by Intertek Testing Services at their
laboratory in Jakarta, under the supervision of Anglo American.
Quality control was monitored by incorporation of assay standards
and duplicates.
The assay data provided above was communicated to the Company by
Anglo American Exploration (Philippines), Inc. which, under the
terms of the joint venture, is responsible for conducting
exploration on the Surigao Properties. Philex Gold has not
independently verified this information.
Copper equivalents on the attached Drill Hole Location Map have
been calculated on the following basis: % Copper equivalent equals
Copper % plus (Gold grams/tonne x 0.60) with copper at $1.15 per
pound and gold at $475 per ounce.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Philex Gold Inc. Rogelio G. Laraya President (632)
746-8756 (632) 631-9498 (FAX) Email: rglaraya@yahoo.com
Philex Gold (TSXV:PGI)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Philex Gold (TSXV:PGI)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
