Cerrado Gold Inc. (TSX.V: CERT | OTCQX: CRDOF) has commenced phase I drilling at its Michelle property located 90km from its Minera Don Nicolas Mine in Santa Cruz Province, Argentina.
The Michelle property contains 37,400ha of exploration permits located between and adjacent to AngloGold Ashanti’s prolific Cerro Vanguardia Mine (+8.5Moz gold, +85Moz silver) and recent bonanza grade discoveries made by E2 Metals Ltd are located less than 50m from the Michelle property’s border.
Reportedly there are over 30km of veins mapped on surface and there is additional potential for continuity under thin basaltic cover. Recent nearby discoveries by E2 & Fredonia Mining Inc. to the south, suggest the potential for high grade silver-gold ore shoots on the Michelle property. Regional drill results include: o Mia (E2)2: 31 m at 27g/t Au and 160 g/t Ag from 53 m; including 18m at 47 g/t gold and 208 g/t silver from 66 m; and 1m at 424 g/t gold and 1,489 g/t silver from 68m. o Malvina (E2)2: 14m at 8.7g/t Au and 2,541 g/t Ag from 67 m. o Monserrat (Fredonia)3: 34m at 1.15 g/t Au and 50 g/t Ag from 32m.
Mark Brennan, CEO and Co-Chairman commented “Given the Michelle property being directly adjacent to Anglo’s prolific Cerro Vanguardia mine and the very near proximity to E2 Metals new bonanza grade discoveries at Mia and Malvina, which have many similar geological features to Michelle, we view the potential for new discoveries as very high. The very strong results from neighbouring properties and the numerous vein structures outlined on our property, indicate significant potential for stand-alone value at Michelle.”
For further information please visit: https://www.cerradogold.com/