(GoldMining, 12.Apr.2022) — GoldMining Inc. (TSX: GOLD) (NYSE: GLDG) commenced a program of exploration drilling on the La Garrucha target, located less than one kilometer to the east and immediately adjacent to the existing mineral resources on the company’s 100% owned La Mina project, located in Antioquia, Colombia.
Alastair Still, CEO of GoldMining, commented, “The start of our first drilling campaign on the La Garrucha target at La Mina marks an important milestone for our company as we begin to unlock value from our portfolio of gold and gold-copper projects located throughout the Americas. This exploration drilling program is designed to test an exciting target, which we believe has the potential to expand upon the project’s existing resource base and represents an opportunity to enhance the economics of the recently announced Preliminary Economic Assessment (see 12 Jan. 2022 news release). We are planning approximately 3,600 meters of drilling in 6 holes with the core to be logged and sampled at our existing La Mina project facilities. Samples of sawn core will be transported to ALS Colombia LTDA in Medellín for assaying.”
Overview
The La Mina project is located 6 km south of the companiesꞌ Titiribi project. Resource estimates have been complete on two (La Cantera and Middle Zone) of the seven prospects identified by geophysics, geochemistry and mapping. The aeromagnetic anomaly over the La Garrucha prospect, located 800 km east of La Cantera, is substantially larger than those over both the La Cantera and Middle Zone deposits. It has been partially tested by drilling (6,734 m in 17 holes) and future exploration programs will focus on expanding the area of mineralization in order to complete an initial resource estimate.
Commodity: Gold, Copper
Ownership: 100%
Location: Antioquia
Infrastructure: Paved highway, water and nearby electrical power grid
Property Size: 3,208 Ha
Deposit Type: Gold-copper porphyry
Resource:
- Indicated: 28.25 Mt grading 0.73 g/t gold (662,680 oz), 1.76 g/t silver (1,602,040 oz), 0.24% copper (150,526,000 lbs) or 1.09 g/t gold equivalent (989,463 oz) at 0.25 g/t cut-off
- Inferred: 13.63 Mt grading 0.65 g/t gold (287,005 oz), 1.76 g/t silver (772,030 oz), 0.27% copper (81,246,000 lbs) or 1.08 g/t gold equivalent (462,168 oz) at 0.25 g/t gold cut-off
Drilling: 106 holes (36,815 m)
Technical Report: La Mina 2021 Technical Report (Preliminary Economic Assessment)
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