Greystar Extends Core Zone at Angostura
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 7, 2007) - Greystar
Resources Ltd. ("Greystar") (TSX:GSL)(AIM:GSL) is pleased to report that
underground drilling on its wholly-owned multi-million ounce Angostura
gold-silver resource in northeastern Colombia has extended the previously
known limits of the mineralizing structures in the Silencio area.
The results from the last 20 of 23 holes in the 2006 drill campaign
included underground hole USI06-24, which returned 6.57 grams gold per
tonne over 2 metres, 0.75 gram gold per tonne over 17 metres, 0.71 gram
gold per tonne over 19.05 metres, 0.75 gram gold per tonne over 11.9
metres, 1.26 grams gold per tonne over 4 metres and 1.03 gram gold per
tonne over 7.6 metres.
Moving 50 metres to the west, hole USI06-21 intersected 2.36 grams gold per
tonne over 16.2 metres, 0.73 gram gold per tonne over 4.75 metres, 2.02
grams gold per tonne over 10 metres, 0.48 gram gold per tonne over 6.25
metres and 0.9 gram gold per tonne over 2.8 metres.
In the core of the Silencio area, underground hole USI06-17 returned
numerous intercepts in the 0.5 to 1 gram gold per tonne range, as well as
1.35 gram gold per tonne over 14 metres, 1.21 grams gold per tonne over 11
metres and 3.42 grams gold per tonne over 10.65 metres.
In La Alta area, underground drill hole UAL06-20 intercepted multiple
mineralized structures highlighted by 4.65 gram gold per tonne over 5.3
metres, 1.30 gram gold per tonne over 12.9 metres, 2.25 grams gold per
tonne over 9.5 metres and 1.24 grams gold per tonne over 18.55 metres.
Higher-grade intercepts included 9.36 grams gold per tonne over 1.5 metres
and 18.2 grams gold per tonne over 1.75 metres.
Results from the surface drilling program are equally encouraging. In the
northeastern portion of the mineralizing system, hole VB06-07, which was
collared on the most westerly line so far tested in the Veta de Barro area,
hit a central zone of mineralization grading 3.63 grams gold per tonne over
36.7 metres including a higher-grade section running 18.55 grams gold per
tonne over 2.75 metres. Above this interval, the hole yielded 0.72 gram
gold per tonne over 6.65 metres, 0.82 gram gold per tonne over 4.5 metres,
0.51 gram gold per tonne over 7.1 metres, 0.59 gram gold per tonne over 7.3
metres and 2.37 grams gold per tonne over 3.95 metres. Below the central
intercept was a 5.2 metre interval averaging 0.65 gram gold per tonne.
Moving 150 metres to the south, hole VB06-10 intersected 1.72 grams gold
per tonne over 0.6 metre, 1.18 grams gold per tonne over 3.2 metres and 3
grams gold per tonne over 1.9 metres, plus 0.47 gram gold per tonne over 9
metres near the bottom of the hole. An additional 100 metres south, hole
VB06-08 returned multiple intervals of mineralization including 2.2 grams
gold per tonne over 5.8 metres, 0.51 gram gold per tonne over 6.2 metres
and 0.53 gram gold per tonne over 5.2 metres in zones that correspond to
the Veta de Barro structures.
Hole VB06-11, collared 50 metres east, returned 1.68 grams gold per tonne
over 6 metres followed by 21.23 grams gold per tonne over 4 metres and 2.02
grams gold per tonne over 3.6 metres in Veta de Barro vein system and 1.54
grams gold per tonne over 4.85 metres and 1.01 grams gold per tonne over
7.7 metres in the El Pozo vein system.
On the northern limit of the Veta de Barro area, hole VBE06-38 intersected
a number of widely spaced mineralized intervals in the upper portion of the
hole before hitting 1.46 grams gold per tonne over 4.4 metres, 0.57 gram
gold per tonne over 7.25 metres, 1.15 gram gold per tonne over 5.5 metres,
0.46 gram gold per tonne over 4.25 metres, 2.08 grams gold per tonne over 4
metres and 10.75 grams gold per tonne over 1.15 metres.
Drill Hole VBE06-39 was collared north of the Mortino Fault and intersected
multiple mineralized structures on the other side of the fault including
1.28 gram gold per tonne over 2 metres, 10.7 grams gold per tonne over 1.5
metres, 6.29 grams gold per tonne over 1.3 metres and 6.12 grams gold per
tonne over 4 metres. The Mortino Fault limits the main Veta de Barro system
on the north. And, as we have seen in the Cristo Rey drilling north of the
fault, mineralization to the north is comprised of isolated narrow veins.
In the core of the Veta de Barro area, hole VBE06-35 cut 1.03 gram gold per
tonne over 32.8 metres and 2.6 grams gold per tonne over 21 metres,
respectively, while hole VB06-09 returned 0.86 gram gold per tonne over
26.3 metres and VB06-12 further confirmed the bulk tonnage structure by
yielding 0.84 gram gold per tonne over 30 metres and 1.85 grams gold per
tonne over 30 metres, respectively.
On the western side of Los Laches, hole ALE06-14 returned 9.43 grams gold
per tonne over 1.75 metre and 16.35 grams gold per tonne over 1 metre
within a broader zone of lower-grade material averaging 1 gram gold per
tonne over 9 metres and 0.97 gram gold per tonne over 24 metres,
respectively. The higher-grade intervals correspond to the 77.9 grams gold
per tonne over 1 metre and 10.8 grams gold per tonne in the previously
released hole ALE06-10. Hole ALE 06-12 was collared between these holes and
intersected 1.3, 0.72 and 0.44 gram gold per tonne over 7.5, 10 and 6
metres before encountering a 15.5 metre section running 1.8 gram gold per
tonne.
In the La Alta East area, hole ALE06-13 cut 36 grams gold per tonne over
0.7 metre and 1.99 grams gold per tonne over 18.7 metres in the
hangingwall, plus 1.56 grams gold per tonne over 32.95 metres in the
immediate footwall. Further down the hole were intercepts of 1.11 grams
gold per tonne over 10 metres and 1.08 grams gold per tonne over 21.5
metres.
Some 100 metres to the east, hole ALE06-11 intersected 1.26, 0.83, 0.42
gram gold per tonne over 18.25, 14.5 and 9.35 metres before encountering a
higher-grade structure averaging 8.17 grams gold per tonne over 7.5 metres.
Additional mineralized structures including 1.07 grams gold per tonne over
11.1 metres and 5.25 grams gold per tonne over 1 metre were intersected
lower down in the hole.
In the westernmost Quebrada El Pozo area, hole QPO06-12 intersected
multiple mineralized structures including 1.72 grams gold over 1.7 metres,
1.12 grams gold over 4.6 metres and 1.02 gram gold per tonne over 8.7
metres, while 50 metres to the east hole QPO06-11 intersected similar
structures including 2.27 grams gold per tonne over 6.8 metres and 1.04
grams gold per tonne over 3.65 metres.
On the northern edge of the mineralizing system, hole CR06-06 intersected
1.29 grams gold per tonne over 5.8 metres, followed by 20.2 grams gold per
tonne over 1 metre and lower down the hole a 3.15 metre interval ran 2.38
grams gold per tonne and a 3.9 metre section ran 2.07 grams gold per tonne.
"The expansion of the Silencio structures to the east, plus early
indications that the mineralization in the Los Laches area and the western
limit of the Veta de Baro area are modestly opening up is very encouraging
for the potential economics of the project," says Greystar's Executive Vice
President, Frederick Felder, P.Geo.
The latest drill results include:
/T/
--------------------------------------------------------------------
From To Interval Gold Silver
Hole Intercept (m) (m) (m(iii)) gm/t gm/t
--------------------------------------------------------------------
ALE06-11 V426 6.75 25.0 18.25 1.26 1.5
---------------------------------------------------------
V427 39.5 54.0 14.5 0.83 2.4
---------------------------------------------------------
V416 78.65 88.0 9.35 0.42 2.1
---------------------------------------------------------
V402 218.4 222.0 3.6 0.65 3.0
---------------------------------------------------------
V403HW 232.5 240.0 7.5 8.17 20.8
---------------------------------------------------------
V403FW 240.0 249.45 9.45 0.78 3.0
---------------------------------------------------------
V605 321.0 332.1 11.1 1.07 4.5
---------------------------------------------------------
V438 420.0 421.0 1.0 5.25 9.5
--------------------------------------------------------------------
ALE06-12 NEW 396.5 404.0 7.5 1.3 28.8
---------------------------------------------------------
NEW 419.0 429.0 10.0 0.72 15.7
---------------------------------------------------------
NEW 435.0 441.0 6.0 0.44 2.2
---------------------------------------------------------
NEW 452.0 467.5 15.5 1.8 15.6
--------------------------------------------------------------------
ALE06-13 V605HW 269.7 288.4 18.7 1.99 4.5
---------------------------------------------------------
V605 289.85 290.55 0.7 36.0 188.0
---------------------------------------------------------
V605FW 290.55 323.5 32.95 1.56 4.3
---------------------------------------------------------
V410 330.3 340.3 10.0 1.11 2.2
---------------------------------------------------------
V407 449.0 470.5 21.5 1.08 10.8
--------------------------------------------------------------------
ALE06-14 NEW 278.25 280.0 1.75 9.43 423.0
---------------------------------------------------------
NEW 280.0 289.0 9.0 1.0 20.4
---------------------------------------------------------
NEW 289.0 290.0 1.0 16.35 308.0
---------------------------------------------------------
NEW 290.0 314.0 24.0 0.97 12.6
---------------------------------------------------------
NEW 325.0 332.0 7.0 0.63 6.5
---------------------------------------------------------
NEW 342.0 349.0 7.0 0.69 27.5
---------------------------------------------------------
NEW 355.0 361.0 6.0 0.77 12.1
--------------------------------------------------------------------
CR06-06 NEW 6.2 12.0 5.8 1.29 20.1
---------------------------------------------------------
NEW 67.9 68.9 1.0 20.2 47.7
---------------------------------------------------------
V221 333.0 336.15 3.15 2.38 6.7
---------------------------------------------------------
NEW 374.0 377.9 3.9 2.07 10.9
--------------------------------------------------------------------
UAL06-20 V705 29.2 34.5 5.3 4.65 58.0
---------------------------------------------------------
V615 58.1 71.0 12.9 1.3 16.9
---------------------------------------------------------
V616HW 80.45 81.95 1.5 9.36 28.9
---------------------------------------------------------
V616FW 89.6 91.35 1.75 18.2 9.1
---------------------------------------------------------
V339 139.0 145.05 6.05 0.44 1.5
---------------------------------------------------------
V709 177.0 186.5 9.5 2.25 2.0
---------------------------------------------------------
V703 216.0 217.5 1.5 1.79 12.7
---------------------------------------------------------
V702 272.4 295.75 23.35 1.03 6.4
---------------------------------------------------------
V925 355.55 374.1 18.55 1.24 12.1
--------------------------------------------------------------------
USI06-17 V912 34.0 48.0 14.0 1.35 3.9
---------------------------------------------------------
V631 54.0 63.0 9.0 0.84 7.5
---------------------------------------------------------
V617 205.1 216.1 11.0 1.21 5.0
---------------------------------------------------------
V615 251.0 263.65 12.65 0.67 2.8
---------------------------------------------------------
V637 317.0 327.65 10.65 3.42 37.1
--------------------------------------------------------------------
USI06-21 V927 12.0 28.2 16.2 2.36 12.0
---------------------------------------------------------
V935 35.75 40.5 4.75 0.73 4.2
---------------------------------------------------------
V902 96.0 106.0 10.0 2.02 14.5
---------------------------------------------------------
V702 116.75 123.0 6.25 0.48 5.5
---------------------------------------------------------
V706 186.35 189.15 2.8 0.9 12.6
--------------------------------------------------------------------
USI06-24 V927 8.0 10.0 2.0 6.57 9.3
---------------------------------------------------------
V349 60.0 64.0 4.0 0.48 8.8
---------------------------------------------------------
V902 95.0 112.0 17.0 0.75 1.5
---------------------------------------------------------
NEW 125.0 144.05 19.05 0.71 7.0
---------------------------------------------------------
V702 150.0 161.9 11.9 0.75 2.9
---------------------------------------------------------
V709 235.5 239.5 4.0 1.26 4.0
---------------------------------------------------------
V615 296.4 304.0 7.6 1.03 2.1
--------------------------------------------------------------------
VB06-07 NEW 58.7 65.35 6.65 0.72 6.1
---------------------------------------------------------
NEW 157.7 162.2 4.5 0.82 7.2
---------------------------------------------------------
V201 264.6 271.7 7.1 0.51 1.1
---------------------------------------------------------
V209 299.0 306.3 7.3 0.59 1.3
---------------------------------------------------------
NEW 313.55 317.5 3.95 2.37 6.1
---------------------------------------------------------
V213 340.0 376.7 36.7 3.63 18.5
---------------------------------------------------------
V212 485.0 490.2 5.2 0.65 0.5
--------------------------------------------------------------------
VB06-08 V201 4.9 10.7 5.8 2.2 34.8
---------------------------------------------------------
NEW 22.8 29.0 6.2 0.51 2.6
---------------------------------------------------------
V209 46.8 52.0 5.2 0.53 1.8
---------------------------------------------------------
V212HW 183.85 188.05 4.2 0.68 10.6
---------------------------------------------------------
V212FW 193.15 197.45 4.3 0.44 0.6
---------------------------------------------------------
V212FW 201.3 208.5 7.2 0.8 8.0
---------------------------------------------------------
V428 337.6 339.2 1.6 2.1 12.9
---------------------------------------------------------
V416 379.0 380.5 1.5 2.6 8.2
--------------------------------------------------------------------
VB06-09 CLOUD1 139.5 165.8 26.3 0.86 2.4
---------------------------------------------------------
CLOUD1 176.0 203.0 27.0 0.53 1.8
---------------------------------------------------------
CLOUD1 268.0 275.0 7.0 1.64 11.0
--------------------------------------------------------------------
VB06-10 V201 69.7 70.3 0.6 1.72 11.4
---------------------------------------------------------
NEW 275.3 278.5 3.2 1.18 13.3
---------------------------------------------------------
V412 362.7 364.6 1.9 3 8.2
---------------------------------------------------------
V416 441.0 450.0 9 0.47 0.4
--------------------------------------------------------------------
VB06-11 V201 55.0 61.0 6.0 1.68 10.7
---------------------------------------------------------
V209HW 119.0 128.0 9.0 0.63 2.4
---------------------------------------------------------
V209 128.0 132.0 4.0 21.23 61.4
---------------------------------------------------------
V209FW 132.0 136.0 4.0 0.59 3.7
---------------------------------------------------------
V213 157.0 160.6 3.6 2.02 6.0
---------------------------------------------------------
V359 355.15 360.0 4.85 1.54 5.8
---------------------------------------------------------
V416 407.3 415.0 7.7 1.01 12.9
--------------------------------------------------------------------
VB06-12 V221 19.0 45.9 26.9 0.55 2.1
---------------------------------------------------------
CLOUD1 90.0 120.0 30.0 0.84 2.6
---------------------------------------------------------
CLOUD1 132.0 162.0 30.0 1.85 9.8
---------------------------------------------------------
within which 145.0 162.0 17.0 2.5 14.8
---------------------------------------------------------
CLOUD1 244.0 262.55 18.55 0.8 2.8
--------------------------------------------------------------------
VBE06-35 CLOUD1 82.2 115.0 32.8 1.03 4.7
---------------------------------------------------------
CLOUD1 115.0 136.0 21.0 2.6 14.4
---------------------------------------------------------
CLOUD1 155.7 163.75 8.05 0.57 4.0
---------------------------------------------------------
V416 379.0 388.0 9.0 0.79 7.3
--------------------------------------------------------------------
VBE06-38 NEW 63.9 65.6 1.7 2.01 27.9
---------------------------------------------------------
V221 129.35 131.0 1.65 1.06 3.1
---------------------------------------------------------
V214 157.75 164.85 7.1 0.8 2.1
---------------------------------------------------------
V215 186.0 191.05 5.05 0.93 5.8
---------------------------------------------------------
CLOUD1 305.6 310.0 4.4 1.46 9.2
---------------------------------------------------------
CLOUD1 424.0 428.0 4.0 2.08 5.3
--------------------------------------------------------------------
VBE06-39 V224 118.0 120.0 2.0 1.28 21.8
---------------------------------------------------------
NEW 140.0 150.0 10.0 0.45 12.0
---------------------------------------------------------
NEW 177.0 178.5 1.5 10.7 219.0
---------------------------------------------------------
NEW 188.5 189.8 1.3 6.29 237.0
---------------------------------------------------------
V221 217.1 221.35 4.25 0.66 3.6
---------------------------------------------------------
NEW 390.0 394.0 4.0 6.12 47.5
---------------------------------------------------------
CLOUD1 444.1 450.05 5.95 0.58 5.3
--------------------------------------------------------------------
QPO06-11 V209 33.0 43.0 10.0 0.52 3.3
---------------------------------------------------------
V202 149.2 156.0 6.8 2.27 10.8
---------------------------------------------------------
V428 232.0 240.0 8.0 0.55 0.3
---------------------------------------------------------
V416 274.15 277.8 3.65 1.04 1.6
---------------------------------------------------------
V423 308.3 312.0 3.7 0.91 1.0
---------------------------------------------------------
V417 342.55 355.0 12.45 0.76 2.1
---------------------------------------------------------
V421 371.5 376.5 5.0 0.46 1.5
--------------------------------------------------------------------
QPO06-12 V209 0.0 10.6 10.6 0.71 2.3
---------------------------------------------------------
V212 61.3 63.0 1.7 1.72 8.9
---------------------------------------------------------
V417 350.5 355.1 4.6 1.12 5.6
---------------------------------------------------------
V419 452.0 460.7 8.7 1.02 2.4
--------------------------------------------------------------------
Note: m(iii) - Down-hole width, not corrected but based on drill holes and
structural dip of the mineralization, the interval is considered to be
close to true width.
/T/
Based on the December 2006 resource update estimation, the Angostura
deposit hosts an indicated resource of 7.42 million ounces of gold in 173.4
million tonnes of material grading 1.33 grams gold per tonne and an
inferred resource of 4.2 million ounces of gold in 80.9 million tonnes
grading 1.62 grams gold per tonne. Resource estimation was undertaken in
compliance with CIM Mineral Resource and Mineral Reserve definitions that
are referred to in National Instrument (NI) 43-101, Standards of Disclosure
for Mineral Projects. A location map of the Angostura drilling, along with
a map of the underground tunnel work, can be accessed from our home page
link at Greystar's website: www.greystarresources.com. |
