Wednesday, 28th June 2006 (2576 views)

Hidefield Gold has announced the discovery of high grade gold reserves in initial core holes during its first phase drilling programme at its East Santa Cruz project.

The Argentine site is located on the Sulfuro gold vein, where the majority of the most promising results returned were found.

All of the first five holes on this vein in the La Paloma area showed good grades of gold mineralisation, including one notable result of 34.23 grammes per tonne over 3.34 metres.

"These results are very encouraging and represent an excellent start to our programme to delineate the resources and establish the parameters for the future development of a mine on this East Santa Cruz property," said Hidefield chief executive, John Prochnau.

"We are already planning to accelerate exploration activity on the property as soon as weather conditions in the spring permit."

The project is made up of 20 gold exploration and development licenses, which equates to around 127,000 hectares of mineable land.

 

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