Touchstone Gold begins further drilling at Segovia project

Touchstone Gold's shares gained Tuesday after the mining group announced it started further drilling at its Segovia gold project in Colombia.

Touchstone Gold's shares gained Tuesday after the mining group announced it started further drilling at its Segovia gold project in Colombia.

The company has kicked off the initial 5,000 metres at its stage four drilling programme and will target three zones - 1141, Tagual Zone and Bern Zone.

First assays from the drill programme are expected in April.

In the Bern Zone, Touchstone has identified a new target zone with a depth potential southeast of the 114.

The 1141 zone is located 200m south of the Filodehambre zone at the property, and so far has produced the best gold values and widest intercepts.

The Tagual Zone, 600 metres east of the Pepas zone, contains about 1,000 metres by 400 metres gold geochemical signature and hosts gold-bearing quartz vein material.

"We are excited to begin our stage four drilling programme, building on our previous drilling success," Chief Executive Officer, David Wiley, said.

"We will be stepping out along strike and down dip from the known gold mineralization at the 1141 zone and also testing two other prospective zones, presenting opportunities for new discoveries.

"We expect to turn assays around quickly and look forward to reporting the first results in April, which we are hopeful will confirm the high potential of our assets in the region."

Shares rose 2.78% to 9.25p at 09:57.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021