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Tuesday, 23rd January 2007 (3349 views)

Queenstake Resources has recently concluded its latest drilling programme at its gold project in Nevada which continued to define gold mineralisation at the so-called Starvation Canyon.

One drill hole managed to intersect a 45 foot stretch which measured 0.33 grams of gold per tonne and was located outside of the project's resource estimate boundary which was originally drawn in 2005.

The gold resources as defined now cover an area of 518 metres in several directions and the main objective of recent work, to define structures containing gold mineralisation, was completed.

Six reverse-circulation holes were drilled to target gold and one intercepted 135 feet at a grading of 0.47 ounces per tonne while another managed 40 feet at 0.87 ounces per tonne.

The resources were estimated at 676,400 tonnes at 0.28 ounces per tonne at year's end in 2005 and the probable reserve was guessed at 400,500 tonnes at 0.3 ounces per tonne.

Queenstake Resources is an emerging gold producer focusing on the Jerritt Canyon in Nevada which lies 44 miles north-east of the prolific Carlin Trend.

 

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