Wednesday, 30th January 2008 (1868 views)

Greystar Resources will commence drilling at the northernmost targets at its Las Animas property in Colombia, the company has announced.

The target is less than a kilometre south from the multimillion ounce deposit at Angostura, which is also owned by the Canadian company.

It is a 200-metre by 300-metre zone where mapping and trenching have discovered similar types of mineralisation to that seen at Angostura.

Drilling at Las Animas is designed to expand the current exploration zone around Angostura and, according to Greystar executive vice-president Frederick Felder, develop a "long life" mining operation.

Based on resource estimates from December 2007, the Angostura deposit has measured resources of 88.49 million tonnes, with 2.24 million ounces of gold graded at 0.79 g/t. Indicated resources for the prospect are 145.82 million tonnes, with gold values of 1.69 g/t.

The Angostura and Las Animas properties are located in north-east Colombia approximately 248 miles from the capital Bogota.

 

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