| Absolut Resources Corp. (TSX
VENTURE:ABS) is pleased to announce that it has
commenced the Phase III drilling program at the Pico
Machay Gold Project, located in Central Peru .
Absolut has engaged A.K. Drilling (www.akdrilling.com)
to provide a Reverse Circulation drill rig to
complete a 6000 meter program.
The focus of this drill campaign is two-fold.
Primarily the program will concentrate on infill
drilling between the current widely-spaced holes in
the Central Zone, which covers an area of 800m by
300m, in order to delineate an initial resource
estimate. The program is also designed to test three
additional target areas, North Dome, Western
Extension and the Valley Zone.
To date 27 holes have been drilled at Pico Machay
(including the original eight drilled by Newcrest
Mining). Applying a 0.5 g/t gold cut-off and
allowing for 1.5m of internal dilution, the average
grade of all drill intersections is 1.22 g/t gold.
As a reference, the Newmont / Buenaventura
world-class Yanacocha high sulphidation gold mine
has an overall grade of 0.96 g/t Au and Barrick's
Alto Chicama deposit grades 1.39 g/t Au with cut-off
grades of 0.35 g/t Au.
Absolut's wholly owned subsidiary, Minera Calipuy
SAC has an agreement with Monterrico Metals PLC to
earn up to a 75% interest in the Pico Machay Gold
Project.
Under the guidelines of the 43-101 National
Instrument the required qualified person for the
Pico Machay Gold Project is Mr. Dan Noone who is a
member of the Australian Institute of Geoscientists.
This press release contains forward looking
statements.
For any questions or comments please contact
us directly.
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