Thursday, 28th September 2006 (2682 views)

Philex Gold has announced results from three infill drill holes at its Boyongan property.

Assays returning both gold and copper were returned from three holes found at the site.

Hole TSD-90 a grade of 0.42 grams per tonne of gold (g/t Au) over an intercept of 378 metres was found. An intercept of 106 metres returned an assay of 0.74 g/t Au also.

Hole TSD-91 returned three intercepts. The first of these gave an assay of 0.35 g/t Au over 511 metres, while the second gave 0.17 g/t Au over 122 metres. The third assay returned 0.86 g/t Au from 37 metres.

Best results from hole TSD-94 include 0.39 g/t Au over 946 metres and 0.56 g/t Au over 301 metres.

Philex chairman Walter Brown commented: "The encouraging results obtained at depth in hole TSD-94 indicate the presence of deeper seated mineralisation termed the 'Northwest Hypogene zone' which may have the potential to significantly increase the resource base at Boyongan.

"A second deep hole, TSD-97 is underway to further evaluate this zone."

 

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