Thursday, 25th October 2007 (2038 views)

Additional samples obtained from the Los Chorros gold mine could potentially indicate that veins on the site contain a high percentage of free gold, according to Gemini Explorations.

The company said that although further lab analysis is needed to confirm the situation, the latest round of vein samplings at the mine showed "excellent consistency" with a combined average of 41.94 grams per tonne of gold.

Located in the El Bagre-Zargoza mining district in Antioquia, Columbia, the Los Chorros gold mine is considered to represent an excellent opportunity for Gemini Resources, which is expected to release an updated production estimate for the site in the coming days.

According to the company, over one million ounces of gold per year are currently produced in the Columbian state of Antioquia, using largely out-of-date facilities and production equipment.

Based in Miami, Florida, Gemini Explorations also holds the La Planada gold property in Sotomayor, Columbia, which covers 45 hectares of land.

 

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