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Monday, 27th November 2006 (3019 views)

Cambridge Mineral Resources have obtained a diamond drill rig and as a result is now about to embark upon a drilling programme at its Quintana gold property in Columbia.

As well as work going ahead at the Quintana mine, Cambridge has said that it intends to focus on its Columbian operations in order to become a "significant gold producer".

Drilling will centre on the down dip extensions of the main vein at Quintana and cumulatively the programme will comprise an area of 900 metres.

Managing director of Cambridge Mineral Resources Colin Andrew stated: "It is a tremendous asset to any mining company to have an in-house drilling capability, not only in the substantial savings over utilising drill contractors, but also in having the ability to quickly investigate existing projects and potential acquisitions."

"The deployment of our own diamond-drill rig will now accelerate our progress and development in Colombia," Mr Andrew added.

Following the drill programme at Quintana, Cambridge Mineral Resources plans on moving the drill rig to the Mina del Sol property.

Capital investment employed at Quintana is currently around $900,000 (£465,000) and this is expected to double in the next three years as the mining company focuses on mine and plant expansion.

 

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