Wednesday, 24th November 2004 (2978 views)

Absolut Resources has announced that it has received drilling results from its work at the Pico Machay, High Sulphidation Gold Project in Peru.

Results cover ten new holes of the second phase of its reverse circulation drill programme.

The new holes were drilled to the south and east of the discovery and cover an area of 200 by 800 m, with seven of the ten holes showing mineralisation near the surface.

Work also showed new zones, that are located to the north and northwest of the site, and these will be high priority targets in the next round of drilling, set to commence early next year.

There are still pending results for six holes at the site.

Absolut is a precious metals exploration and development company in Canada and its wholly owned subsidiary Minera Calipu has an agreement with Monterrico Minerals to earn a 75 per cent stake in the current gold project.

 

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