Friday, 16th July 2004 (3348 views)

Gold resources at the Siberia Mining Corp have reached a crucial mark causing shares in the company to rocket by over 20 per cent.

Its resources of the precious metal have now reached the one million ounce mark, at an estimated 1.21 million ounces of gold.

According to The Age, the resources have increased by 34 per cent and the business is now conducting a feasibility study for an underground mine at its Sand King project.

Siberia technical manager Adrian Byass said: "What we are starting to see is a very robust total mining operation with the potential to continue to significantly extend the life of the company's gold production."

In addition the firm has found a new zone for gold following drilling at a site between Missouri and Sand King.

 

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