Friday, 23rd June 2006 (2461 views)

The Meadowbank gold project owned and operated by Cumberland Resources has seen success in the identification of new mineralisation, according to the company.

In addition to the increased gold resources resulting from this, the programme has also been successful in improving the Cannu zone's definition.

President and chief executive at Cumberland Kerry Curtis said: "Our initial 2006 exploration efforts have once again demonstrated that Meadowbank has excellent potential for new discoveries."

He added: "As the Cannu grades are approximately 50 per cent higher than the average reserve grade on the project, we are confident of the excellent potential the Cannu zone offers for open pit expansion."

The Meadowbank project incorporates the largest pure gold open pit reserves in Canada and Cumberland is currently advancing production of the site to a target of 330,000 ounces of gold annually.

 

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