Wednesday, 22nd June 2005 (2944 views)

New Gold has announced that its ongoing diamond drill programme at a Canadian project is showing continued success.

The company is happy with the progress of its 20,000 metre underground diamond drill programme at its New Afton Copper-Gold Project.

Significant grades of copper-gold mineralisation (greater than 1.50 per cent copper equivalent) are still being intersected, correlating well with those identified by the company's current resource block model.

A total of seven drill holes have provided extensive exploration results, including revealing a number of higher grade mineralisation intersections further to the east than suggested by the model.

"We continue to be very encouraged by the results of the infill drilling program. As the year progresses we will continue the procedure of releasing results for individual sections as the drilling is completed," said Chris Bradbrook, president and CEO of New Gold.

The information gleaned from the exploration programme will be used to create a feasibility study to determine the economic parameters of developing a new underground mine to extract the resource.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.