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Patagonia Gold Reports Drilling Results From the Monte Leon Target, Santa Cruz, Argentina
VANCOUVER, British Columbia, March 01, 2023 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to announce new gold
About this update from Patagonia Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, March 01, 2023 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) is pleased to announce new gold and silver analytical results in exploration drill samples from the Monte Leon (“MLN”) target near its Cap Oeste (“Capo”) mine in the Santa Cruz province of southern Argentina. Highlights On November 16, 2022, the Company announced an exploration agreement with a private arm’s-length company for a 20,000 meter, two-phase, core drilling program at MLN (see news release on www.patagoniagold.com). MLN is located on a major, NNW-SSE structural trend that extends beyond MLN to the east-southeast and to the north-northwest to the Capo mineral system. To date, a total of 1,760 meters in five, HQ-sized core holes were completed in this phase of drilling (see Figure 1 below). Results from 973 meters in 5 core holes are reported in this news release (through MLN-874-D ). Anomalous gold and silver mineralization, greater than 0.5 grams per tonne (“g/t”) gold (“Au”), was intersected in five new core holes. Au values up to 72.4 g/t and silver (“Ag”) values up to 1,473 g/t were reported from hole MLN 873D (see Table 1). Mr. Christopher van Tienhoven, CEO of Patagonia, commented “We have had MLN as one of our priority exploration targets for this year. Prior Company drilling defined near surface oxidized mineralization in late 2020 and 2021. We are pleased with the analytical results thus far and are designing additional drilling to help define the depth and lateral extension of the new gold and silver mineralization.” Historical Work Prior to this new program of core drilling at MLN, the Company identified gold mineralization in oxidized and brecciated structures at MLN, with 104 trenches and 21 core holes (see December 29, 2020 news release on www.patagoniagold.com). In addition, Patagonia Gold Plc (the AIM-listed predecessor to the Company), drilled 75 reverse circulation and 21 core holes in the general area surrounding the recent MLN drilling in 2011 and 2015. The location of the historic work in noted in Figure 1. In addition, 43.9 line-kilometers (‘’km”) of ground-based, induced polarization and resistivity (pole-dipole IP-Res) surveying was completed in 2021, and more than 800 line-km of ground magnetics. Figure 1. Location of MLN and Capo in the El Tranquilo concession black ...