- Rugby Mining (RUG) has completed detailed sampling and magnetics at El Zanjon Gold-Silver Project in Argentina
- The company has identified 13 zones of anomalous gold-silver geochemistry associated with interpreted magnetic structure
- Gold values range from <0.02 to 2.3 ppb while silver values range from 0.3 to 70.3 ppb
- Rugby is an exploration company focused on targets in Colombia, Argentina, the Philippines and Australia
- Rugby Mining (RUG) is up by 19.05 per cent and is currently trading at $0.125 per share
Rugby Mining (RUG) has completed detailed sampling and magnetics at El Zanjon Gold-Silver Project in Argentina.
The program is designed to discover an intact epithermal gold-silver system beneath shallow sedimentary cover.
Highlights
- Ultra low-level ionic leach geochemistry is capable of “seeing through” gravel cover into the underlying bedrock. Rugby is targeting flexures within major faults that trend south from the Cerro Vanguardia Gold-Silver Mine onto El Zanjon
- The company has identified 13 zones of anomalous gold-silver geochemistry associated with interpreted magnetic structures
- Rugby has collected a total of 876 samples to date. Gold values range from <0.02 to 2.3 ppb and silver values range from 0.3 to 70.3 ppb
- An area of highly anomalous arsenic (max 1,195 ppb), molybdenum (max 1,420 ppb) and mercury (max 4.4 ppb) with coincident gold and silver is defined near the centre of the property
- An environmental impact assessment is currently being prepared for the future drilling program
- The company has planned for follow-up sampling and geophysics to define further drill sites
Yale Simpson, Rugby’s Chairman, stated,
“Low-level geochemistry is working remarkably well in locating potential leakage from a concealed epithermal gold-silver system below recent gravels. We are very encouraged by the clustering of anomalous values, but feel we need to close in from 160 metre lines to 80 metre lines prior to drilling. We expect that program will commence in October, immediately following the Argentine winter. Drill permitting has been initiated.”
Rugby is an exploration company focused on targets in Colombia, Argentina, the Philippines and Australia.
Rugby Mining (RUG) is up by 19.05 per cent and is currently trading at $0.125 per share as of 1:26 pm ET.
