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In the latest gold mining news, Pilar Gold has intercepted Bonanza grades at their Sertao Gold mine.
Hi, old gold here, with a video featuring some super high-grade drill intercepts at Pilar Gold's Sertão gold mine in central Brazil. Sertão was initially operated by Troy resources, and from 2003 to 2006, was the highest grading gold mine in the world, recovering around 260 thousand ounces of gold, at an incredible 29 grams a ton.
Troy only drilled three holes in the down-plunge from the open pits, as they were only interested in the near-surface ore, that could be extracted with open-pit mining.
In the financial year, 2003 to 2004, Sertão delivered 86 thousand ounces of gold, at an average grade of 32 grams per tonne, with a cash cost of, 44 US dollars per ounce.
Troy recovered 190 thousand ounces, from stages one to four, and 54 thousand from stage five. As you can see, the drilling campaign now underway will concentrate on the extensions to these five stages, along with stage six that was never mined, as troy had placed the plant squarely on top of it.
Western Mining drilled a hole some 700 meters, in a westerly direction from the open pits, that returned 119.6 grams of gold. Yamana Gold put a hole down, more than 1.2 kilometres from the pits, and intercepted what is believed to be the same reef, that Western Mining hit, and that Troy was mining. This intercept was 2 meters thick, and 18.7 grams a ton. Pilar gold now controls five kilometres of the tenements to the west of the old Troy pits.
While there has never really been any doubt, that the ore shoots continue, there has been some conjecture as to whether the very high grades, seen in the open pits, would be present, in the down-plunge.
Hole 13 returned a super high-grade intercept, of 218 grams, while 14 returned 78.6, Holes 19 and 20 reported grades of 33.78 and 21.17 respectively.
Head of geology, Paulo Aguirre, commented that these intercepts in the down plunge, Confirm the continuation of the very high, and super high grades, that made Sertão the highest grading, and lowest cost, gold mining operation in the world!
The pedigree of the Sertão deposit was highlighted by Troy resources in the early two-thousands, and once again, Sertão will be thrown into the spotlight by Pilar Gold in 2022, as the drilling is set to prove, that Sertão will once again, be the highest grading gold mine in the world.
In my experience, I would have expected to see ten or more rigs on such a high-grade target as Sertão. However, Pilar Gold, as always, is playing it smart and has started with one rig, to define the reefs geology. Now that has been accomplished, they are increasing to two rigs in January, then increasing to four as the year progresses. By doing it this way, they ensure the best bang for their dollar, by vastly decreasing their chances of having more dusters than necessary. It would not surprise me to see ten rigs on Sertão by the end of 2022.