COLOMBIA – GREYSTAR RESOURCES of Vancouver recently received assays of 74.16 g/t Au and 167.20 g/t Ag over 3.0 metres from drilling at its Angostura project in the northeastern part of the country. Within that 3.0-metre section there was a 1.3-metre interval that assayed 145.4 g/t Au.
The latest results from 18 new drill holes generated 98 intercepts grading greater than 0.5 g/t Au over widths varying from 3.0 to 39.0 metres, and have greatly enhanced the geological knowledge of the Angostura deposit, according to the company.
Greystar has budgeted US$12 million for its 2006 exploration and development program at Angostura. An August 2005 study put indicated resources of oxide and sulphide mineralization at 148.1 million tonnes grading 1.22 g/t Au and 5.17 g/t Ag. An additional inferred resource of 123.3 million tonnes at 1.13 g/t Au and 5.42 g/t Ag was also made. The deposit may contain as much as 8.5 million oz of gold.
Take a look at Greystar’s January 2006 presentation (available at www.GreystarResources.com). It contains some beautiful photography and a thorough explanation of the company’s plans.