- Patagonia Gold (PGDC) has started drilling at its Tornado and Huracán properties
- The gold, sliver properties are located in Santa Cruz, Argentina
- Patagonia expects to drill up to 3500 metres
- The company has budgeted up to USD $1.5 million for the drilling campaign
- Patagonia is up 4.76 per cent on the day, with shares trading at C$0.11 at 12:48 p.m. EST
Patagonia Gold (PGDC) has started drilling at its Tornado and Huracán properties.
The gold, sliver properties are located in Santa Cruz, Argentina.
The properties are located approximately 60 kilometres to the south-southeast of the community of Perito Moreno in the northwest portion of the province.
Together, the two blocks of concessions total 7900 hectares in size and are situated between the multi-million ounce producing San Jose/Huevos Verdes and Cerro Negro mines operated by Hochschild Mining plc. and McEwen Mining Inc. respectively.
The company obtained the properties in 2019.
Patagonia owns 100 per cent of both properties with no royalty obligations other than the provincial royalties.
There has been very little historical exploration work completed on both properties, with large parts covered with post mineral rocks and sediments.
Geologic trends recognized at Tornado and Huracán are parallel to, and may be extensions of, those reported at the neighbouring mines.
Patagonia plans a total of 3500 metres of reverse circulation drilling for the initial phase along with geologic mapping and sampling. The planned drilling will be focused on geologic features and trends recognized and projected into the properties.
“We are excited to commence exploration on our large, Tornado and Huracán properties. The two, adjacent Company concessions are in the highly prospective Deseado Massif, which hosts numerous precious metal deposits like those of the San Jose and Cerro Negro mines,” said Patagonia CEO Christopher van Tienhoven.
The company expects a budget of up to USD $1.5 million for drilling, assaying and related work.
Patagonia is up 4.76 per cent on the day, with shares trading at C$0.11 at 12:48 p.m. EST.
