Monday, 18th December 2006 (2281 views)

Silver Grail Resources, in conjunction with Teuton Resources, have announced the discovery of bulk tonnes of gold mineralisation after a diamond drilling programme took place at its Midas property.

Located in Stewart in British Colombia, the Midas property holds broad widths of gold which were discovered in three holes. One highlight showed a grade of 2.52 grams of gold per tonne over 32.4 metres and so the true width is estimated at 29.2 metres.

Some 0.7 metres of the vein gave readings of 26.77 grams of gold per tonne.

Dino Cremonese, president and chief executive of Silver Grail, said: "These are the first holes to test the Three Oz vein area and with the success of this programme we are very much looking forward to further drilling in 2007, particularly as this zone is open in all directions.

He added that the firm is especially intrigued by the potential for a bulk tonnage type gold deposit at Willoughby Creek which is locally well-known as a rich gold bearing stream and it flows directly below the discovery.

 

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