Greystar Resources (GSL) – Drilling Report

Greystar Resources (GSL) – Drilling Report

Greystar tags silver-rich structure at Angostura

Greystar Resources Ltd (GSL) reports that infill drilling has returned 16.64 grams gold and 116.8 grams silver per tonne over 6.1 metres in the Los Laches area of its wholly-owned, multi-million ounce Angostura gold-silver project in the northeastern region of Colombia.

“The infill drill program at 25 metre spacing is nearing completion and the objective of better defining the geometry of the higher-grade shoots within select areas of the deposit has been achieved,” said Greystar’s Executive Vice President, Frederick Felder, P.Geo. “The latest results from 16 holes further outline a north-east trending zone of higher-grade silver mineralization extending from Los Laches through La Alta East and into Nueva Alta area of the deposit covering more than a 1,000 metre strike length, while infill drilling at Veta de Barro and Veta de Barro East further confirm the higher-grade shoots with intercepts of 21.22 grams gold and 14.6 grams silver per tonne over 5.85 metres, 50.46 grams gold and 35.2 grams silver per tonne over 3.45 metres and 57.8 grams gold and 9.3 grams silver per tonne over 2.6 metres”.

Along with Los Laches area drill intercepts, the silver-rich structural zone was encountered in the Nueva Alta area with one hole yielding 5.24 grams gold and 124.1 grams silver per tonne over 13.55 metres and in the La Alta East area where a hole returned 7.58 grams gold and 227.1 grams silver over 7.25 metres.

Based on the positive results from the infill program, two additional metallurgical composite samples of Los Laches mineralization have been sent to McLelland Laboratories for testing. Earlier preliminary work from this area based on quick leach test work showed that the sulphide mineralization had significantly higher recovery rates for both gold and silver when compared to the remainder of the deposit.

Greystar anticipates that with the near completion of the infill program, the number of drills will be reduced at the end of September, with some drills being left to do geotechnical, hydrogeology and condemnation drilling until the end of the year. Exploration drilling at the Animas and Mongora targets are continuing.

The first stage of the Angostura feasibility study is now well underway. Most recently, Greystar retained Vector Engineering, an engineering company based in Lima, Peru to complete the leach pad and tailings design, while project access road surveying and full design work has been awarded to ETA  S.A. Consultores, a Colombian firm.

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