Georgian Mining Corp (LON:GEO) results confirm economic gold grades with copper directly underneath:
- Georgian Mining are well on their way to developing what we believe will be a number of new copper, gold mines.
- The results shown indicate better than expected grades, generally between 1-2g/t with two great results at 4.78g/t and 2.55g/t.
- Most of the results shown are from surface and there are also much higher individual peak gold assays to help.
- TGD-046: 30m @ 1.0g/t Au from 0.0m
- TGD-048: 25m @ 2.09g/t Au from 1.0m
- TGD-051: 16m @ 1.60g/t Au from 0.0m
- TGD-052: 16m @ 1.43g/t Au from 0.0m
- TGD-054: 28m @ 1.95g/t Au from 43.0m
- TGD-056; [email protected]/t Au from 85m
- TGD-057: [email protected]/t Au from 13m
- TGD-060: 25m @ 2.55g/t Au from 5.0m
- TGD-061: 21m @ 1.1g/t Au from 0.0m
- Peak individual gold assays in intersections down to 60m from surface show:
30.6g/t, 21.4g/t, 20.6g/t, 14.4g/t, 10.2g/t, 7.63g/t and 5.94g/t Au
- Drilling also confirms the presence of copper sulphide mineralisation immediately beneath of the gold oxide.
SP Angel said: “Georgian Mining should start feeding gold oxide ore to the Madneuli joint venture plant within months. The mining will expose the copper sulphide orebody directly underneath in preparation for mining and processing again at Madneuli which is just 7km away.
The copper mine should, in time, be much larger than the gold and the recent discovery of high-grade ‘chalcocite’ copper mineralisation supports our expectation for a significantly scale copper mine at the site. Management are targeting a 50mt of ore within a large epithermal copper, gold resource and we expect to see further evidence of the resource in drilling in the near term.”
*SP Angel acts as Nomad and Broker to Georgian Mining.
