Ecuador Gold and Copper (TSX-V:EGX, StockForum), a Toronto-based mineral exploration, mining and development firm engaged in the acquisition and exploration of gold mineral rights located in Ecuador, released assay results from drill hole DSB-44 at its Santa Barbara gold-copper porphyry deposit located in the company's 8,300 hectare Condor Gold and Copper project in the Zamora Gold and Copper Belt, Southeast Ecuador.
According to the news release, DSB-44, drilled in the Santa Barbara South Zone, revealed 1.08 g/t gold over 136 metres and 0.17% copper within a continuously mineralized 678 metre stretch averaging 0.67 g/t gold starting at 206 metres with top gold grades consistently between 1.0 g/t gold and 2.3 g/t gold all encountered from 324 to 408 metres.
With the recent assay results, resources at the Santa Barbara Zone deposit now sit at 236.1 million tonnes at 0.57 g/t gold and 0.1% copper or 4.33 million ounces gold and 520.0 million pounds copper in the Indicated category and 102 million tonnes at 0.50 g/t gold and 0.1% copper or 1.6 million ounces gold and 225 million pounds copper in the Inferred category.
All together, the Condor Gold and Copper project consists of an Indicated mineral resource of 6.365 million ounces gold and an inferred total of 2.06 million ounces gold.
Ecuador Gold and Copper was in the news recently when the company released results from the exploration drilling at Santa Barbara North Zone at the beginning of February.
Shares climbed 6.25% on the news to $0.085 per share.
Currently there are 215.3m outstanding shares with a market cap of $18.3 million.