Thursday, 19th July 2007 (2075 views)

Mineral exploration company Kinbauri Gold has struck gold in its latest drilling programme at El Valle.

During its ongoing drilling programme at the Spanish site, Kinbauri has intersected 11.1 grammes per tonne (g/t) of gold over 25.6 metres.

Other assay results include 4.5 g/t of gold over a thickness on nine metres in hole 07KV1001, 6.40 g/t of gold over 6.4 metres at hole 07KV1002 and 7.60 g/t of gold over a thickness of 2.10 metres at hole 07KV1003.

"The objective of the on-going 7,000 metre drill programme is to define resources to support six years of production, assuming reasonable conversion to reserves. Area 107 and Black Skarn North are being targeted for their continuity of gold mineralisation and proximity to existing mining infrastructure," the company noted in a statement.

Earlier this year, Ore Reserves Engineering estimated indicated resources at El Valle as 12,000 ounces of gold and inferred resources of 342,000 ounces gold for Area 107 while at Black Skarn North it estimated inferred resources of 73,000 ounces gold.

Kinbauri's Monica Zone was reported to have measured and indicated resources of 203,000 ounces gold and inferred resources of 17,000 ounces gold.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.