Zacapa Resources (TSXV: ZACA | OTCQB: ZACAF | DE: BH0) has completed all permitting requirements related to its inaugural South Bullfrog drill programme in Beatty, Nevada.
“Zacapa’s technical team has advanced South Bullfrog from early greenfields exploration to high quality permitted drill targets in 14 months. We are very pleased to see our technical teams’ hard work evolve into such robust targets. In our view, investors will re-rate the exploration and development potential of the Beatty District in the near term as AngloGold Ashanti updates its gold reserve/resource estimate and releases a PFS for Silicon, announces an inaugural resource for the Merlin deposit, and receives permits to begin construction at North Bullfrog.” Commented Adam Melnik, CEO and director.
The company expects to commence drilling next month, with 3,000m planned to test top ranked epithermal gold exploration targets at the Shingleback and Longtail prospects.
Zacapa has received approval from the US Bureau of Land Management for its Notice of Intent for proposed drilling activities at the Longtail prospect, which together with previously reported Shingleback permit completes the permitting activities for the inaugural 3,000m drill programme at South Bullfrog.
The approved drill programme includes four drill pad locations at the Shingleback target area and three drill pad locations at Longtail. The total number of drill holes and metres drilled from each pad will be based on results and can be increased pending success.
“The Beatty District currently hosts over 8.6Moz of gold and is expected to have four new mines in production within the next three years, all from near surface, open pit, oxide gold deposits, with production costs in the first quartile of the cost curve – Tier 1 mines that will reassert Beatty as a major mining centre in the Walker Lane trend for profitable gold production. “Added Adam.
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