25 May 2012

 Patagonia Gold

ADD

04/02/2011 Robert Tyerman

Final drilling results from Patagonia Gold’s (PGD) Cap-Oeste South East (COSE) gold and silver project in Argentina have brought cheer to the AIM company’s followers. One drill hole has intersected one metre showing 346.6 grammes of gold and 16,519 grammes of silver per tonne of ore and elsewhere drilling has yielded 4.09 metres at 121.82 grammes a tonne of gold and 2,404 grammes of silver.

Other intersections show more modest grades, but even these are impressive by industry standards. Patagonia Gold (PGD) says it has discovered a new mineralised vein at Cap-Oeste, with 1.1 metres showing 435.4 grammes a tonne of gold and 1,006 grammes of silver.

Originally a spin-off from former mining star Brancote, Patagonia Gold, steered by the experienced Bill Humphries and Richard Prickett and backed by the locally influential Miguens family, has seen its shares rise over the past year from a 12.5p to 50.25p today, 9p off their 12-month high. Highlighted by Growth Company Investor in 2007 at a depressed 7.88p and again last December at 39.25p, they should have more progress to make

Tags: Argentina, Cap-Oeste, Gold explorer, Mignues

Sector: Mining

Companies: Patagonia Gold

Market cap: £340m

PE Forecast: n/a

Share price: 50.25p

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