Tiger Gold (TIGR.V / FSE: D150) just posted the first results from their new drilling at the Quinchia project in Colombia. This is the start of a bigger 10,000m drilling plan, and they’ve only reported 2 holes so far.
Here’s what they hit:
Hole 1: 139.6 metres averaging 0.9 gold, starting basically right at the surface
inside that was 30 metres averaging 1.3 gold
Hole 2: 68 metres averaging 0.7 gold from the surface
plus another 60 metres averaging 0.7 gold deeper down
inside that was 16 metres averaging 1.7 gold
Why it matters:
Both holes hit long stretches of gold, and a lot of it starts near the surface.
The company says these results are better than the average of what they already have counted in their current estimate for this area.
One hole also hit better than expected in a spot they haven’t drilled much before, which could mean this zone is bigger than they thought.
They’re drilling with 2 machines right now and said a 3rd one is coming this month, so we should get more updates soon. They also said results are still coming from 5 more holes already drilled.
Anyone here follow Tiger Gold or projects in Colombia? Are these kinds of long, near surface results a good sign to you, or do you usually want to see higher numbers before getting interested?