VANCOUVER, British Columbia, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces results from exploration activities at its Abril property (“Abril”), in the Santa Cruz province of Argentina. This program is the first drilling on Abril conducted by the Company and the first since a small amount of core drilling conducted by the private company Minera Piuquenes in 2006 (see Patagonia Gold’s press release dated May 26, 2022 at www.patagonia gold.com).
Highlights
Mr. Christopher van Tienhoven, CEO of Patagonia, commented, “We are pleased with the analytical results from this first round of Company drilling at Abril. The proximity to our nearby Martha property and geologic similarity to mineralization at the Martha property makes Abril a compelling target. The best results from this round of exploratory drilling is just three km south of the Martha mill and flotation plant. We are now planning follow-up work, which may consist of additional prospecting and mapping, channel sampling and diamond drilling.”
Figure 1. Location of Abril adjacent to the Martha property
Table 1. Analytical Results (composited) from Abril RC Drilling
Notes to Table 1.
Qualified Person’s Statement
Donald J. Birak, an independent geologist and Registered Member of SME and Fellow of AusIMM and a qualified person as defined by NI 43-101, supervised the preparation of the scientific and technical information that forms the basis for this news release and has reviewed and approved the scientific and technical disclosure herein. Mr. Birak visited the Abril property during the first week of November 2022 and viewed channel sample locations.
There has been insufficient exploration to define a mineral resource at Abril and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
About Patagonia Gold
Patagonia Gold Corp. is a South America focused, publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 430 properties in several provinces of Argentina and Chile and is one of the largest landholders in the province of Santa Cruz, Argentina.
Christopher van Tienhoven, Chief Executive Officer
Patagonia Gold Corp
T: +54 11 5278 6950
E: [email protected]
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements with respect to, among other things, plans related to follow-up work, which may consist of additional prospecting and mapping, channel sampling and diamond drilling; the results of further exploration; and the anticipated growth in shareholder value. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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