Thursday, 13th December 2007 (1942 views)

The discovery of further high-grade gold intercepts on the Black Fox project could add to the current reserve base recorded for the site, it has been announced.

According to Dick Nanna, the senior vice-president of exploration and development for Apollo Gold, an infill drilling programme currently underway at the site has totalled 8,676 metres to date and is intended to convert inferred resources into the indicated category.

Some 39 surface core holes have been drilled on the site so far, as well as 22 underground holes, with one sample returning gold values of 42.17 grams per tonne, the company said.

Earlier this year, a resource estimate released for the site showed the presence of 1,002,000 ounces of gold in the proven and probable reserves category.

"We have been hitting some very high-grade gold intercepts in this infill drilling programme which could potentially add additional high quality gold ounces to our current reserve base," Mr Nanna said.

The Black Fox project is located around 40 miles east of the town of Timmins in northern Ontario, Canada.

 

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