The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 29th February 2008 (4457 views)

"Encouraging" results have been reported from drilling at Lihir Island in Papua New Guinea, one of the largest gold deposits on earth, the company behind the work has said.

Lihir Gold said the results will increase the site's resource estimate, which at the end of 2007 was put at 35.3 million ounces of resources and reserves, with an additional 3.8 million ounces in inferred resources.

Results from the latest round of drilling include 3.96 g/t gold over 86 metres, 3.40 g/t gold over 210 metres and 3.02 g/t gold over 94 metres.

There were also intersects of 2.99 g/t gold over 101 metres, 2.84 g/t gold over 186 metres and 2.60 g/t gold over 138 metres.

All of these results were from drill holes located outside the current resource.

The Lihir Island ore deposit was discovered in 1982 and mine production started there in 1997. At current rates, it is expected to continue until 2021.

 

« Back to Gold News stories