Thursday, 26th May 2005 (3214 views)

Oceana Gold has discovered two new gold intersections below its current pit at the Globe Progress mine.

The move follows an announcement last week by the firm to possibly reopen two historic gold mines.

Globe is based near Greymouth and close to Reefton and could significantly increase reserves.

The miner began exploration in September 2004, before which there had not been any exploration in the Reefton gold area since 1997.

Work has so far included extension drilling, open pit development and data interpretation.

Oceana claims that the findings support its comments that there is potential to extend reserves throughout the district.

 

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