Golden Peaks Resources HUB - AGORACOM
Drilling about to restart at La Fortuna, 1st resource calc being worked on
Message: Cerro Delta Project, Argentina
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Wed Jan 21, 2009 |
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January 21, 2009, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to provide an update on its Cerro Delta Project, La Rioja Province, Argentina. The Company is currently awaiting approval of its environmental impact study (EIS) for the upcoming diamond drilling program on the project. Company and Government officials are presently on site and drilling will commence once all permits have been received. Cerro Delta is a porphyry gold-copper system. The company has recently received and reviewed the completed geophysical report on the Pole-Dipole IP/ Resistivity and Ground Magnetic Surveys completed by Quantec Geoscience Argentina S.A. The new imagery clearly shows large scale porphyry and associated structural targets coincident with anomalous surface gold values. Drill targets have been selected for testing with widely spaced holes. Once the broad extent of the system has been established a tighter drill spacing will be used to establish the distribution of higher and lower grade mineralization in the system. The Cerro Delta project is located in the Maricunga gold district of Chile/Argentina (42 million ounces of gold discovered to date). The drill targets lie on the same structure that hosts the Cerro Casale deposit, which is located approximately 20 km to the west. According to Barrick Gold Corporation the Cerro Casale deposit is one of the world's largest undeveloped gold and copper deposits. A pre-feasibility study on Cerro Casale is expected by about mid-2009. (Ref.: http://www.barrick.com/GlobalOperati... ) Media Information, contact: Scott Emerson, Chairman and Director [email protected] Investor Information, contact: Mike Kordysz, Investor Communications [email protected] |
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