Monday, 25th September 2006 (2312 views)

Capella Resources has announced that it has signed an agreement with a Chilean drilling contractor.

The Lajitos project is situated on the Maricunga gold/copper mineral belt, which can be found in region III, approximately 700 km to the north of Santiago and 170 km to the east of Copiapo.

Terraservice will carry out the drilling work on phase one of testing at this site, which is located on belt of mineralisation which hosts numerous deposits built on gold stockwork systems.

These structures are known to contain advanced agrillic alteration zones that host replacement epithemal and high-sulphidation gold deposits.

An independent mineral estimate has placed the resources held at the site in the region of 380,000 ounces of gold.

The company's president and director Richard Bachman commented: "The company continues to look for opportunities in the mining and minerals business that will add value for our shareholders.

"We also believe motivated, talented professionals on our technical team are the most important element in our business plan."

 

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