Metals Exploration plc provided an update on exploration at its La India gold project in Nicaragua. Channel sampling has outlined an extension to the initial Phase 1 North pit at La India of a minimum of 100 metres up to potentially 300 metres. Newly exposed high-grade mineralisation at the La India-Teresa intersection confirms a significant structural target for further drilling.
Continuity of the N-S La India trend supported by recent breccia-vein contacts indicate potential for further pit enlargement. Near-surface mineralisation along the NW extension offers low-cost, high-impact expansion opportunities for Phase 1 mining. High-priority drill programme planned to validate and confirm the extent of the pit extension and test deeper high-grade projections.
Channel Sample Results The construction of new access roads to the Phase 1 North pit area exposed fresh mineralised outcrops enabling systematic channel sampling at the northernmost extent of the presently outlined La India system. This enabled sampling across two structural zones. The first zone tested was at the intersection of the La India and Teresa systems. Pit Design Implications The surface sampling campaign has confirmed new near-surface mineralisation along theNW extension of the La India structure, representing an immediate opportunity to expand the Phase 1 North pit by approximately 100 metres.
If drilling confirms continuity of the La India system at depth and along NW strike, additional expansions of the final mining area are possible. Future Works A high priority drill programme will be conducted to test the continuity of the newly exposed veins. The objective will be to test the continuity of the La India structure to validate the extent of the pit extension, and to test down-dip projection of high-grade intervals identified in this zone.
Additional drilling following the CHN-018/019 correlations will test the extent of the N-S LaIndia trend. In addition, the Company will undertake detailed structural mapping around the La India-Teresa intersections zone to refine targets, and to map the NNW-trending breccia system (CHN-016) to determine its role as a secondary conduit. The Company will update the Phase 1 North pit shell incorporating the NW extension scenario, while running sensitivity scenarios assuming successful additional drilling results.
