Thursday, 14th August 2008 (452 views)

Assay results from five surface samples from the LS Grande property have given positive indications to the presence of gold.

Brownstone Resources, which owns the site in northern Arizona, said it expected the value range for the gold to be between 0.10 and 0.20 ounces of gold per ton, based on historical assay information.

A drill programme will soon start at the property, designed to test the target areas to a maximum depth of 400feet.

In other news, HuntMountain Resources has announced assays from its drill programme at the La Josefina property in Argentina.

Results from the Veta Sur mine in Santa Cruz included 2.66 g/t of gold across 11 metres, 3.25 g/t of gold across 2.1 metres and 1.43 g/t of gold across 0.9 metres.

Since 2007, 122 holes have been drilled across 20,000 metres at the site.

Matt Hughes, executive vice president and chief operating officer of HuntMountain Resources, said: "These latest assays from the Veta Sur target are highly encouraging and illustrate the opportunities for increasing shareholder value through base metal potential."

 

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