Pucara Gold Ltd. announced that 25 holes totalling 3,955m of drilling were successfully completed on budget and safely at the Lourdes Gold Project in Peru. Drilling results confirmed the presence of gold mineralization hosted within silicified diatreme breccias within a 1.5km trend along the eastern portion of the Lourdes project area. Five of the nine target areas were tested with follow up drilling planned during Phase II. The most significant gold intercepts obtained from the Chucllani area included 0.24 g/t gold over 18m in drill hole LOU011, 0.24 g/t gold over 21m in nearby drill hole LOU013 (see figure 2) and 0.47g/t gold over 4.9m in drill hole LOU019. These mineralized intercepts appear stratiform and are believed to represent the distal portion of the Paccha Huayco diatreme, leaving a large portion of the inferred structural feeder to be tested in the Phase II campaign. Drill holes in the North Diatreme and the northern portion of the Jellopata diatreme target areas encountered substantial thicknesses of favorable silicic alteration and confirmed the target concept. Gold mineralization was not encountered. Drill hole intercepts suggest remaining potential to the south due to an inferred vector toward coarse diatreme breccias indicative of the vent source, the increased presence of massive to vuggy silica with depth, limonite contents, and anomalous gold in surface sampling. Chucllani Zone: Seven holes were drilled into the target area totalling 856m. The most significant gold intercepts include 0.24 g/t gold over 18m in drill hole LOU011 and 0.24 g/t gold over 21m in drill hole LOU013. Chucllani has strong similarities of mineralization and alteration to the Apumayo gold deposits being mined 14km to the south. The primary drill target consisted of a more than 200m long northeast-trending zone of granular silica alteration with outcropping gold mineralization up to 0.64 g/t Au. Drilling indicates that the gold zone is stratiform, occurring in the basal portion of a zone of granular to massive silica extending laterally outward from the Paccha Huayco diatreme and outcropping 150m south of the drill collars. While low-grade, the zone is comparable to granular-silica hosted ore-grade mineralization at the Apumayo Mine. The Chucillani intercepts are most likely the distal portion of a structurally controlled gold zone located to the northwest toward the Paccha Huayco diatreme and warrants additional step-out drilling to be included in Phase II. Drilling indicates that the Chucllani zone exhibits moderate to strong multi-element geochemistry with elevated pathfinder elements: arsenic, bismuth, barium, and mercury.
Core hole (LOU012) into the Paccha Huayco target confirmed the diatreme concept, transecting 230m of strongly silicified multi-stage diatreme breccias. Multiple stages of cross-cutting hydrothermal breccias are present, as well as late-stage cross-cutting silica veinlets similar to those carrying gold at the Apumayo Mine. Anomalous gold concentrations were encountered at depth and appear to be correlative with Chucllani intercepts. The hole ended in strongly altered andesite host rock, indicating that the hole is not located in the central diatreme vent area and the target therefore requires additional exploration drilling. Eight holes were drilled into the northern 600m of the 1.2km long Jellopata diatreme resistivity anomaly and targeted the inferred central diatreme feeder. Thick 100m to 229m plus intercepts of highly oxidized granular to massive silica alteration were encountered that are anomalous in molybdenum but lack anomalous gold concentrations. One Jellopata drill hole (LOU003) appears to have penetrated close to the inferred diatreme feeder, with the others transecting altered lateral and distal stratiform diatreme fill sediments. Drill hole LOU003 had the thickest silica interval encountered of 229m, and the hole was lost in favorable silicic alteration in a fault zone at 246m. The hole showed transition to more favorable vuggy and massive silica with higher limonite content at depth. The character of the drill hole lithologies suggest remaining potential to the south due to the presence of coarser diatreme fill breccias, increased massive to vuggy silica with depth, higher limonite contents and more gold in surface sampling. Four holes were drilled into the Ayani target, a structurally controlled zone located at the extreme northeastern portion of the Lourdes system. Drill holes encountered the strongest trace element geochemical signature of the program and weakly anomalous gold. Alteration indicative of the upper barren portion of the hydrothermal system was encountered; follow-up drilling will test the deeper portions of the zone. Two holes were drilled into the North Zone, located at the extreme northern end of the project area with outcropping northeast-trending silicified hydrothermal breccias, granular silica breccias, and silicified limonitic matrix breccias highly anomalous in pathfinder elements. Both holes encountered strongly anomalous molybdenum and weakly anomalous gold concentrations.