Capella Drills 261 Metres Grading .91 G/T Gold at Lajitas
April 2, 2009 Filed Under: Precious Metal
Capella Resources Ltd. announce drill results (drill hole LJ-08011) from the Company’s 100% own Lajitas gold project in northern Chile. The core drilling intersected a zone of continuous gold mineralization of 261 meters grading 0.91 grams per tonne (g/t) gold between 90 meters and 351 meters down the hole. Contained within the intersection is 104.7 meters grading 1.59 g/t gold.
LJ-08011 was drilled at a -60 degree angle into an induced polarization (IP) anomaly that is 1.8 kilometres in diameter on the southeast edge of a non-compliant 43-101 historic gold resource, which was calculated by Minera Santa Fe Pacific Chile Ldta. in 1997.
The entire mineralized drill intersection noted above is contained within oxidized andesitic volcano-clastic and dacitic intrusive rocks that are variably altered with iron oxides, clay, and silica. Rocks at the Lajitas gold project exhibit some of the deepest oxidation known in the Maricunga District.
Anomalous copper mineralization was intersected throughout drill hole LJ-08011 with the best interval grading 0.15% copper (Cu) over 33 metres between 294 and 327 metres down the hole. Additionally, significant ground water was intersected in the Lajitas gold project drilling. During the past year the Company has conducted extensive title research of the water rights over the Lajitas gold project and is preparing application for those surface and sub-surface water rights.
The Lajitas gold project is located approximately 12 kilometres southeast of the Marte-Lobe gold deposit that was recently acquired by Kinross and lies 18 kilometres east of Andina Minerals’ Volcan gold deposit. The Lajitas gold project is subject to a 5% net smelter return royalty and the Company has the option to reduce the same to 2% by paying the royalty holders a cash payment of US$3,000,000.