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Friday, 29th December 2006 (3323 views)

Canadian mining firm Linux New Gold has announced the discovery of new gold anomalies close to Granite Mountain and Dime Creek in Alaska.

Following the geochemical sampling of rocks and soils by the Vancouver-based company, two gold anomalies have been unearthed; one at Quartz Creek and the other at Kiwalik River, both in western Alaska.

A rock grab at Quartz Creek was especially encouraging, yielding gold samples ranging from 114 to 325 ppb.

The announcements are in addition to discoveries revealed earlier in the year for a number of areas around western Alaska which saw Dime Creek yield between 1.4 and 3.5 grams of coarse gold per cubic metre.

Jeff Keener, the project's geologist, asserts the Dime Creek alluvial gold deposits are ripe for development and production.

He puts forward a 9,000 foot drilling program for the site in the new year.

The announcement saw shares in the firm rise by over 14 per cent on Wednesday.

 

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