Concordia Resource has reported the results of the phase I drill program conducted at the Providencia silver property, located in Northwest Argentina. The company encountered 3,112 g/t silver over 4 m in hole DPR-0004, 1,788 g/t silver over 7 m in hole DPR-005 and 60.2 g/t silver over 44 m in hole DPR-033.
The company’s drill program focused on the sediment-hosted shallow mineralized silver present in the historic pit region, which is located on the Providencia mine. It intended to outline a primary resource along with NI 43-101 guidelines. The company drilled 3,589.4 m, totaling 39 holes.
This drill program has authenticated the continuation of mineralization below the mined regions and in the outer part of the pits, which extended down-dip for up to 150 m towards the east, 600 m along the strike. The mineralization has been cut over a down-hole width averaging some 17 m and is exposed at depth and to the north.
Currently, the company has analyzed the results and has planned to report a primary resource during April 2012. Canada-based Roscoe Postle Associates (RPA) has been retained by the company to appraise and release the drilling results. Concordia will plan the phase II drilling program and intends to expand the known mineralization located along strike once the planned IP survey is completed.