Thursday, 27th July 2006 (2465 views)

Pele Gold has confirmed the existence of high-grade gold mineralisation in two new zones on its Ontario-located Highland project.

The company has immediately commenced work on the sites and surface testing has unveiled positive results, with the most four promising samples showing gold presences of 13, ten, 9.9 and eight grams per tonne respectively.

The promise of these two zones has been known for a long time. After several drill holes were made there during the 1960s and 70s, a horizontal mine entrance was created, dipping down to a depth of 460 feet.

Previous testing carried out on the site back in 1988 showed considerable concentrated gold presences of 3.7 and 1.18 ounces per tonne over distances of 0.5 and 0.7 feet respectively.

Over longer distances, the most promising results were two samples of 2.7 feet each, which indicated gold presences of 1.68 and 1.5 ounces per tonne.

Current drilling operations being undertaken by Pele are expected to indicate high-grade gold quantities in line with those indicated by previous testing in the area.

 

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