Friday, 24th September 2004 (3380 views)

Junior precious metals explorer Caledon Resources has announced it has commenced drilling at its Hengxian gold project in Guangxi Province, China.

The drilling is taking place after original works were made difficult with poor ground conditions and it is hoped drilling will meet objectives this time.

George Salamis, managing director said: "The Company's return to Hengxian is in keeping with our strategy set-out over one year ago, involving the systematic exploration of all projects from the mapping and surface sampling phase, through to drill target definition, first pass reconnaissance drilling and follow-up drill programmes."

According to Caledon, the project is a sediment hosted disseminated gold system with exploration potential and it has targeted the area for some time.

Caledon has the rights to a 70 per cent equity stake in the combined mining and exploration project over a three-year period.

 

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