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- Cervantes Corporation (CVS) has wrapped-up drilling at its Primrose Gold Project in the Paynes Find Goldfield of Western Australia
- The company focused on the Blue Heaven exploration target, the Pansy Pit and the MMI anomaly
- The aim of drilling was to verify historic intercepts, better define mineralisation, and infill existing drilling
- Throughout 2021 CVS will validate historic hole locations, resample anomalous intercepts, and plan additional drilling programs
- Shares in CVS have been trading steady at 0.4 cents since April 2019
Cervantes Corporation (CVS) has wrapped-up drilling at its Primrose Gold Project in the Paynes Find Goldfield of Western Australia.
The company focused on the Blue Heaven exploration target, the Pansy Pit and the MMI anomaly.
Blue Heaven
Six reverse circulation (RC) holes, for 263 metres, were drilled at Blue Heaven to verify historic intercepts.
Unfortunately the targeted depths were not reached due to hard ground and insufficient equipment.
However, promising geology was intersected with strong magnetite alteration and a igneous rocks. These are both very favourable environments for gold mineralisation.
Pansy Pit
25 RC holes, for 436 metres, were drilled at Pansy Pit to infill existing drilling and better define near surface gold mineralisation.
Best results include two metres at 8.93g/t gold from nine metres including one metre at 17.26g/t gold from nine metres, and five metres at 7.74g/t gold from seven metres including three metres at 12.34g/t gold from seven metres.
MMI anomaly
Two holes were drilled at the MMI anomaly with both intersecting granodiorites (rock similar to granite) with a minor quartz vein.
Gold grades were minimal, peaking at 0.048g/t.
“Cervantes is progressing its gold assets with a view to engaging a third party to purchase the ore or mine and toll treat ore from our Primrose Gold Project. The company is very excited with its prospects at the Project but needs to do additional work to realise its value,” Executive Chairman Collin Vost commented.
Throughout 2021 CVS will validate historic hole locations, resample anomalous intercepts, and planning additional drilling programs.
Shares in CVS have been trading steady at 0.4 cents since April 2019. The company has a $2.144 million market cap.
