Wednesday, 30th July 2008 (415 views)

King's Bay Gold has released a progress report for its Sakoose gold mine project in Ontario, Canada.

The results are from the ongoing Phase I drilling programme at the site in Melgund Township.

A new gold zone has been found at a depth of between 97.75 metres and 105.75 metres.

Results so far include 12.98 g/t of gold across 0.25 metres, 4.24 g/t of gold across 0.5 metres and 9.53 g/t of gold across 1.5 metres.

In addition, nine other drill holes have been completed and King's Bay Gold is now waiting for assay results.

The company said it "is pleased with ... the fact that the new gold zone discovered ... was intersected directly below the mine workings which has now confirmed depth extension and continuation of this mine".

In total the Sakoose gold mine incorporates six claims across an area of 760 acres.

King's Bay Gold also has the Phyllis Lake and Helena Lake gold properties in Ontario.

 

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