|
Metals Exploration PLC on Friday said recent sampling has found potential to extend the La India gold project, as the company plans a drill programme to confirm findings. The London-based miner operator of gold and polybdenum with assets in the Philippines and Nicaragua said channel sampling showed an extension of between 100 to 300 metres to the initial phase 1 north pit at La India. New near-surface mineralisation across the NW extension of La India represents an ‘immediate opportunity’ to expand the phase 1 north pit by approximately 100 metres, the company said. ‘If drilling confirms continuity of the La India system at depth and along NW strike, additional expansions of the final mining area are possible,’ it added. Metals Exploration said it will conduct a priority drill programme to test the continuity of the veins in order to validate the size of the pit extension and test deeper high-grade projections. ‘We are extremely pleased with these initial results, which highlight the strong potential to grow the phase 1 north pit both along strike and at depth. The discovery of additional near-surface mineralisation provides an immediate opportunity to enhance recoverable ounces and potentially improve phase 1 economics,’ Chief Executive Darren Bowden said. ‘Our forthcoming drilling programme is designed to rapidly test these new zones and unlock further value from what is shaping up to be a highly prospective epithermal system.’ Shares in Metals Exploration fell 0.4% to 11.01 pence on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
