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Wednesday, 28th November 2007 (5041 views)

An updated resource estimate for the El Valle project located in north-west Spain has increased measured and indicated gold values on the property to 727,618 ounces.

The site, operated by Kinbauri Gold, has also seen a change in inferred resources, with more than 1.1 million ounces of gold now classed in this category.

Results from a summer drilling operation on the Black Skarn North and Area 107 zones of the property were included in the latest resource estimate.

The two zones will undergo further drilling in the new year to convert gold resources into known gold reserves.

Earlier this month, an infill drilling contract was signed with a Spanish company and will see the completion of 20,000 metres of underground diamond drilling carried out on the site between January and July 2008.

It is anticipated that the two gold zones will become the focus of mining once the mill on the El Valle project is up and running.

Buffalo Gold holds a 25.4 per cent interest in the project.

 

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