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Thursday, 20th September 2007 (2847 views)

"Numerous" high-grade gold-bearing structures have been revealed during a phase one drilling operation in Red Lake, Ontario, Canada, King's Bay Gold and Mainstream Minerals have announced.

The Bobjo project, a joint venture between Mainstream Minerals and King's Bay Gold, has yielded high-grade gold results at "very shallow depths", according to the companies.

All nine exploratory drill holes revealed gold mineralisation that the two companies believe could be developed with open pit mining.

The initial results of the Bobjo project are encouraging, the partners reported, stating that they are now awaiting the assay results of drilling operations on a further six holes at the site.

Following a surface grab sampling of the area that revealed ultra high-grade gold in December 2006, the CA$1million (£491,700) drilling programme began in June 2007.

The Bobjo mine property covers 3,800 acres of land between the South Bay zinc and copper mine and the Uchi Lake gold mine in Earngey Township.

Although historically, the production of gold and base metals in the area goes back 80 years, the current drilling operation is the first modern exploration of the Bobjo mine property.

 

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