Great Panther Mining Limited revealed new results from a drill program on the Urucum North deposit that highlight the potential for additional near-term gold production at the firm’s flagship Tucano operation.
Drilling at the Urucum North (URN) deposit revealed intersections of 2.2 metres (m) at 14.3 grams per ton (g/t) gold, 2.6m at 6.3 g/t gold, and 2.6m at 9.3 g/t gold, which included 3.1m at 4.1 g/t gold.
In total, the firm drilled 19 holes to test the down plunge extension of the high-grade underground zone.
Great Panther also drilled 26 holes between 2020 and 2021 that targeted shallow upper-level stopes outlined in the URN underground project mine plan. Additional drilling delineated a near-surface zone of high grades of up to 8 g/t gold, indicating potential to incorporate the upper-level stopes into an extension of the open pit design at URN on the Tucano operation.
"We are very excited with the exploration results we are seeing from Tucano, which demonstrate the potential for additional near-term gold production,” Great Panther CEO Rob Henderson said in a statement.
“The high grades discovered at Urucum North are encouraging, and we are expediting studies to support a decision to initiate underground production to supplement the open pit feed to the mill. Drilling also identified shallow high-grade mineralization, which we believe will extend the Urucum North pit."
The URN underground project envisions an estimated 40,000 to 50,000 gold ounce per year underground mine planned to extract ore from below the current URN open pit, Great Panther said in a release.
Great Panther’s portfolio of assets in Brazil, Mexico and Peru, includes three operating gold and silver mines, four exploration projects, and an advanced development project.
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