Thursday, 9th October 2008 (295 views)

Exploration firm De Grey Mining has announced that "significant" high-grade gold has been intersected at its Brierly project in Western Australia.

Aircore drilling at the location has returned grades of 6.98 g/t gold over eight metres and 0.51 g/t gold over 19 metres.

The company stated that the results indicate mineralisation widths and grades are increasing along an easterly trend, where the target remains open along strike.

Managing director Gary Brabham commented: "These very encouraging results clearly indicate potential for significant, new gold mineralisation at Brierly."

He added that the firm is "increasingly confident" that the project will add value to current resources.

Meanwhile, a gold rush has been sparked in Ballarat, Victoria after two amateur explorers discovered gold nuggets using a metal detector.

The area is part of the region's "golden triangle", where the precious metal was originally found in 1851, drawing prospectors from around the globe, according to the Australian.

 

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