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Wednesday, 23rd April 2008 (2303 views)

Phase two of a core drilling campaign at the Kaukua mineral project in north-east Finland has returned high gold values, according to one of the site's developers.

Nortec Ventures, which is working on the project to earn an 80 per cent interest in the property from Akkerman Exploration, said the drilling programme involved the completion of seven holes totalling of 1,163 metres, with depths of between 100 and 200 metres.

Results from these holes include gold grades of 0.26 g/t gold over 10.50 metres and 0.24 g/t gold over 13 metres.

Additional intercepts were graded at 0.16 g/t gold across 30.20 metres, 0.16 g/t gold over 29.20 metres, 0.11 g/t gold over 31.07 metres and 0.12 g/t gold over 27.06 metres.

According to the company, a third phase of deeper drilling is now planned and Nortec is currently negotiating for a drill ring capable of reaching between 300 and 400 metres below the surface.

The Kaukua project covers 1,320 hectares approximately 18 kilometres south of the Finnish town of Posio and around 200 kilometres north-east of the nearest major city, Oulu.

 

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