Strong base for future exploration
Canadian company Element79 Gold (WKN A3EX7N / CSE ELEM) is working hard to bring the historic Lucero gold and silver mine back into production. Recently, the company was able to fill its coffers and bring additional expertise on board. Today, CEO James Tworek’s company is presenting convincing results from extensive samples taken underground in the historic mining areas. One particularly convincing sample yielded 98 g/t gold and 2.034 g/t silver!
Numerous high-grade samples from historical mining areas
Extensive, in this case means that Element79 Gold has taken 455 underground channel samples. This corresponds to approximately 620 kilograms of mineralization and 650 kilograms of wall rock. The samples were analyzed by Ore Discovery and, according to Element79 Gold, show “significant” exploration potential. According to the company, 115 samples returned substantial gold (1.0 g/t to 98.1 g/t), silver (0.7 g/t to 3,026 g/t), lead (up to 2.0%) and zinc (up to 3.5%) values.
Of particular interest are the 17 samples with gold contents of more than 10 g/t. And of these, another eight samples contain more than 20 g/t gold, while at the same time more than 100 g/t silver was detected in 51 samples. Of particular significance, according to Element79, are 15 high-grade samples with values ranging from 12.65 to 98.1 g/t gold (!) and an impressive 62.1 to 3,026 g/t silver as well as up to 3.24% zinc! These are discoveries that clearly underline the potential for exceptionally high-grade mineralization at Lucero, we think.
In total, 58% of the 455 samples taken contained more than 0.1 g/t gold, 26% more than 1 g/t gold and 9% more than 5 g/t gold. And the mineralization with less than 0.1 g/t gold comes mostly from wall rock.
Data for strategic progress
In view of this data, Element79 considers itself to be in an excellent starting position and speaks of expected “strategic progress”. According to the company, the latest results go beyond routine exploration work. Because, as Element79 Gold explains, they are decisive markers that show the tangible promise and potential of Lucero and will serve as a basis for the upcoming drilling – and ultimately a resource estimate.
Element79 Gold can now not only rely on detailed historical data for the further exploration of Lucero, but also combine this with the wealth of data it has acquired itself. This means that further work – including drilling – can now be much better targeted. We are excited to see what happens next!
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