Quimbaya Gold Adds Drill Rig, Starts Phase 2 Drilling in Colombia
MT newswire2026/10/07 20:2604:26 PM EDT, 10/07/2026 (MT Newswires) -- Quimbaya Gold (QIM.CN) after trade Wednesday said it added a second diamond drill rig at its Tahami South gold and silver project in Colombia and started phase 2 drilling. The new rig will operate alongside the company's ongoing drilling at the Tahami Center copper-molybdenum porphyry system, allowing Quimbaya to drill two targets at the same time, it added. "Phase 2 targets the S and V vein systems in and around the high-grade silver and gold intercepts returned in Phase 1, on the trends confirmed by ground geophysics," the company said. Drilling is set to be completed in the fourth quarter, with assay results projected to be out in the first quarter of 2027, it added. "What encouraged us most was not simply that we intersected them, but that the geophysics then gave us a much clearer picture of where to follow them," Chief Executive Alexandre Boivin said. Shares of the company closed up 2.9% at CA$0.36 on the Canadian Securities Exchange.
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