Calvista Gold Corp. (TSX: T.CVZ, Stock Forum) said that its recent soil sampling program has identified two new mineralized zones at its Callejón Blanco prospect within its wholly-owned California Valley Project.
The California Valley Project, located in Santander, Colombia, has an inferred resource of 510,087 ounces of gold, grading 2.25 grams per tonne and 2.8 million ounces of silver, grading 12.6 grams per tonne.
According to the press release, under the company's soil sampling campaign, all Calvista's licenses were sampled on a 100 by 50 metre GPS grid using the company's codified card system.
A total of 351 samples were taken from the upper part of the B Horizon and assayed using Enzyme leach technology by Activation laboratories in Canada.
As the result of these studies, new target zones were identified and drilling targets were selected for Calvista's Phase III drilling campaign.
Calvista is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals.
On Tuesday, Calvista was trading at $0.40 a share. The company has a market cap of $21.5 million, based on 53.7 million shares outstanding. The 52-week high and low was $0.84 and $0.15 respectively.