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Friday, 30th November 2007 (2646 views)

Results from the first hole drilled on the Joe Mann mining property have been released, the president of Global Finishing announced this week.

The drill hole intersected two zones of mineralisation – the principal vein, which is though to contain 43.4 grams of gold per tonne and the south zone, which contains 23.3 grams of gold per tonne.

Results from the initial drilling, which extended to levels below 1,150 metres, will be rechecked by an offsite lab for verification.

Diamond drilling has been conducted on the site since mid-October and is intended to test around 2,500 metres of known mineralisation below the mine structure.

According to Global Finishing, the mine has produced 1,253,869 ounces of gold since 1956, with 13,328 ounces of gold mined from the site between July 2006 and June 2007.

Located 550 kilometres north of Montreal, Canada, the mine is a joint-ownership venture between Gold Bullion Development and Global Finishing.

The companies intend to raise gold production levels at the site to 60,000 ounces of gold per year.

 

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