is pleased to announce an update on the progress of exploration activities at the Company's flagship Anzá Project ('Project') in Colombia.The Anzá Project is now 100% owned by the Company following recent completion of a Share Purchase Agreement (SPA), announced 28 November 2024, whereby the Company purchased all of the shares of its previous JV partner, Minera Monte Aguila (MMA).
The Project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications as well as a large exploration camp.The Pepas Prospect is in the northern extent of the Anzá Project (pre-acquisition) over 10km north of the central base at APTA (Figure 1).The Company began drilling at the Pepas prospect in mid-November 2024, just prior to completion of the MMA purchase transaction. Drilling commenced with hole PEP012, which was positioned to confirm previous high-grade results in hole PEP001, PEP005 and PEP007, drilled by MMA in 2022. Holes PEP013, PEP014 and PEP015 were then rotated some 51 degrees Eastward from PEP012 to begin to test what was considered by Company geological teams to the controlling trend of SE to NW. As well as defining thick zones of high-grade mineralisation, a target for these holes was a clearly defined basement fault that seemed to act as a distinct marker bed to define the trend.Holes PEP013 and PEP014 both intersected the basement fault at roughly the depth predicted, and both recorded substantial intersections of high-grade gold mineralisation above the basement fault.From surface, hole PEP015 entered a thick zone of soils, saprolite, intense weathering and faulting, that appears substantially thicker and more complex than previous holes. The hole then entered the expected mineralised zone at a downhole depth of 23.5m, until the basement fault at 63.7
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Company Regains Full Control of Anzá Gold Project in ColombiaA company has fully regained ownership and operatorship of its Anzá Gold Project in Colombia without making any upfront payments. The Anzá Project, located 50km west of Medellin, is a gold exploration site in the Mid-Cauca belt, boasting high-grade gold mineralization discovered through extensive drilling. Newmont Corporation was involved as a joint venture partner since September 2020.
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