Monday, 10th November 2008 (330 views)

Ascot Mining has announced that it has intersected the targeted Cajeta vein at the Chassoul gold mine in Costa Rica.

Veritas Gold, a wholly-owned subsidiary of Ascot Mining, claims to have discovered high grade gold, assaying returned grades of 41.2 grams per tonne or 1.326 ounces per tonne.

A 150m main access tunnel was driven to successfully intersect the targeted Cajeta vein and a one-tonne bulk sample was obtained, which was crushed and processed to determine the gold content.

In a statement to the London Stock Exchange, David Jackson, Ascot Mining chief executive, said: "We are pleased to have encountered the target vein precisely as predicted and we are particularly excited by the resulting assays which confirm the anticipated grades."

Located in Costa Rica, the Chassoul gold mine is 100 per cent owned by Veritas Gold and Ascot Mining said last month that production at the project is imminent.

 

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