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Thursday, 25th October 2007 (2838 views)

A 1,500-metre diamond drilling programme has started at the Angelina gold property and is "progressing well", according to geologists at Grandview Gold.

The current drilling operation is designed to test a target model based on reconnaissance work carried out on the property earlier this year, where surface samples yielded anomalous gold characteristics over an area measuring 450 metres by 150 metres.

According to Grandview Gold's president and chief executive, Paul Sarjeant, geologists on the site, reporting from Bisset, Manitoba, Canada, said that the number of gold zones and the density of veining "appears to be greater than expected", but that nothing definitive will be known until assay results are returned from the laboratory.

The company said that Manitoba's Rice Lake gold district shares similar geological characteristics to the Red Lake Gold District in Ontario and considers the area to be a "potential new major gold district".

The Angelina gold property, covering an area of 234 hectares, is located south-east of the profitable Rice Lake Gold Project, which has previously produced 1.4 million ounces of gold.

Grandview Gold holds properties in both the Red Lake and Rice Lake gold districts, as well as the Carlin Trend in Nevada and the Lac du Bonnet mining district in south-east Manitoba.

 

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