Karbonate Minerals Corp. Announces its Selby's Plot Drill Results from Morona Santiago Project in Ecuador
Karbonate Minerals Corp. have now intersected long sections of gold mineralization in a multiple number of drill holes in an area named Selby's Plot from its ongoing core drilling program at its Morona Santiago Project in Ecuador, reference KMC-ECU-04.
The results have further confirmed the original findings of the mineralized footprint at the project, which remains open and at full capacity during the test drills. It has been reported that each of the core drill holes completed to date have intersected gold mineralization and because of this the drilling program is ongoing. Currently three core drill rigs are in operation at the northern tip of Selby's Plot and additional assays recovered previously from other drilled test holes from the east of Selby's Plot are expected imminently.
Charles Nadeau, Chairman of the Board and Chief Executive Officer at Karbonate Minerals Corp. said: "Drilling to date at Selby's Plot has returned multiple holes with long intervals of excellent gold mineralization. With every test hole we drill the potential footprint of mineralization gets bigger and bigger. The potential for the project to exceed our initial estimates by a considerable margin is becoming more and more apparent with every hole drilled."
Once this drilling program has been completed Karbonate Minerals Corp. have announced their intentions to conduct further test drills to the north and west of Selby's Plot in an area they have named Melon Bowl due to its geographical footprint. The company anticipate to drill up to 130 test holes at depths ranging from 20 to 80 meters along an 800-meter strip of land through the center of the area which will take in the region of 6 months to complete.
"We are moving toward further deeper drilling on both the north and west of Selby's Plot which initial exploration has shown similar ground structures. We will maintain these test drill programs while keeping the operation open to maximize the potential of the entire project and we look forward to keeping investors up to date as we have the results of them provided to us," Mr. Nadeau confirmed.
Karbonate Minerals Corp. are also in the process of securing a 5th project in Ecuador at some point this year but are not yet willing to confirm any details surrounding the project's location at the time of going to press.
