Quimbaya Gold (QIM.C) released the assay results from six of the nine holes that were drilled on the Tahami Center porphyry system. There certainly were some expectations , especially after Dr Stewart Redwood confirmed the area of interest has the characteristics of a typical porphyry copper-moly deposit. And although all six holes intersected a large anomalous metal-bearing porphyry system, the encountered grades were sub-economic.
The best interval hosted 0.041% copper, 34 ppm molybdenum and 0.015 g/t gold over a total interval of 527 meters. And as you can see below, all holes encountered mineralization at an average grade of 0.02-0.04% copper with some minor molybdenum and gold values but that clearly is not enough to provide even a glimmer of hope of economic extraction as you would traditionally need about ten times that grade.
The data will now be interpreted by the company’s technical team to see if and where follow-up programs are warranted, perhaps after a round of surface exploration that could identify more porphyry targetss. This also means the attention now shifts back to the Tahami South gold-silver exploration program.
Disclosure: The author has no position in Quimbaya Gold. Quimbaya is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
