Business
Greystar Resources Begins Drill Program at La Plata
Greystar Resources Begins Drill Program at La Plata
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"\nGreystar Resources Begins Drill Program at La Plata\n\n\n Feb. 16, 2010 (Baystreet.ca) -- VANCOUVER, BRITISH COLUMBIA -- Greystar Resources Ltd. (the \"Company\") (TSX: GSL)(AIM: GSL) announced that the Company has commenced a drilling program with one drill rig at the Company's La Plata Property located in the California mining district of Colombia. La Plata comprises 78 hectares of mineral rights contiguous on the majority of its borders with existing Greystar holdings (see map posted at www.greystarresources.com). \nThe La Plata property lies within a mineralized belt related to the northeast-southwest trending La Baja Fault, which has given rise to a number mineralized occurrences. This mineralization, which has traditionally been mined by local artisanal miners, is now the focus of more modern exploration methods. Within the La Baja structural domain, gold and silver mineralization is associated with flexures along the main fault. \nExploration carried out by Greystar during the second quarter of 2009 identified vein and stockwork mineralization associated with strong alteration hosted in a dacite porphyry. Rock samples from mine tunnels on site returned gold assays ranging from no significant gold up to 9.66 grams per tonne gold and silver assays ranging from no significant silver up to 94.3 grams per tonne silver. \nDrill results will be published upon receipt and interpretation of assay results. \nAbout Greystar Resources Ltd. \nGreystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life. \nForward-Looking Statements \nCertain statements in this news release are \"forward-looking\" within the meaning of Canadian securities legislation. They include statements regarding mineral exploration and drilling programs. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other c...