Metminco Releases Drill Results from Chuscal

Metminco, soon to be renamed Los Cerros, has intersected an impressive 350m wide zone of gold mineralisation.

Metminco (ASX: MNC), soon to be renamed Los Cerros, advised that it has intersected an impressive 350m wide zone of gold mineralisation, from surface, in the first diamond hole ever drilled into the Chuscal gold target, located in the Mid-Cauca Porphyry Belt of Colombia, and part of the company’s Quinchia gold project.

As quoted in the press release:

Metminco’s Managing Director, Jason Stirbinskis commented: “This is a remarkably strong result on our first hole given the extent of the mineralisation encountered from surface, and it has proven very illuminating, greatly improving our understanding of the geology. After outstanding drill success last year at the nearby Tesorito porphyry discovery, including a best result of 253.1m at 1.01 g/t Au from surface, including a higher grade zone of 64m at 1.67 g/t Au4, and now hitting this wide interval at Chuscal, we believe we are in enviable porphyry territory.

It remains early days into our drilling at Chuscal, but this first intersection has certainly provided very strong encouragement about what Chuscal could be when you consider the sheer scale of the gold anomaly at surface, the impressive widths of mineralisation encountered and its location in the heart of the Mid-Cauca belt, which is already host to several multi-million ounce porphyry and epithermal deposits.

When compared to other global porphyry systems and recent discoveries, this early result reaffirms our view that our Quinchia Project and Chuscal in particular, have great potential.”

Click here for the full text release

Petratherm Limited Announces Filing of Early Warning Report Related to the Disposition of Common Shares of Outback Goldfields Corp.

Petratherm Limited (ASX: PTR) (“Petratherm”) announces that it has filed an early warning report (the “Report”) announcing that it has disposed of 33,333,333 common shares (the “Disposed Shares”) of Outback Goldfields Corp. (CSE:OZ) (formerly, Skarb Exploration Corp.) (“Outback Goldfields“). Petratherm acquired the Disposed Shares as consideration for the sale of its gold projects located in Victoria, Australia. Unless permitted under securities legislation, Petratherm must not trade the common shares before April 16, 2021. Following the expiry of this restriction period, Petratherm distributed all of the Disposed Shares in specie to its shareholders effective today. Following the disposition of the Disposed Shares, Petratherm holds nil shares of Outback Goldfields.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Petratherm.

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https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

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