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Wednesday, 28th March 2007 (3131 views)

New high grade gold finds at Cambridge Mineral Resources' Quintana gold mine in Columbia have been described as "[enhancing] the mine's potential", according to the company's managing director Colin Andrew.

A total of five assays were processed following diamond drilling work that is ongoing at the Quintana site and the highlight from the exploration was the grade of 46.44 grams per tonne of gold over 2.5 metres.

The cost per metre of the programme performed with Cambridge Mineral Resources' in-house drill rig has been found to be less than $40 (£20) per metre, which was described as "exceptional" by Mr Andrew.

Mr Andrew said: "In addition, we have now completed the feasibility study on the Quintana Mine and are awaiting independent audit and sign-off before release.

"The study has confirmed an increase in both reserve and resource categories and we look forward to being able to inform the market of the actual figures shortly."

Specifically it was the downdip extension at the Quintana mine that was targeted during the 2,000 metre drilling work and the gold grades yielded from this area were found to be higher than in previous exploration work.

 

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