Friday, 15th August 2008 (411 views)

Apollo Gold has announced results from its drilling programme at the Huizopa property in Mexico.

At the Puma De Oro target in the Sierra Madres, 25 holes were drilled as part of the programme.

The company said gold was found in 20 holes and six of these reported "significant" gold values.

Results from the site include 42.5 g/t of gold across 1.5 metres, 4.1 g/t of gold across 0.6 metres, 3.7 g/t of gold across 1.1 metres and 21.6 g/t of gold across 0.4 metres.

Richard Nanna, senior vice-president of exploration, said the drilling at Puma De Oro "indicates the potential of a significant gold system with a current strike length of over 1,000 meters and it is very promising to get results like this on the first exploration drilling program on a new target".

In other news, Apollo Gold announced it had finalised the acquisition of the Stock Mill complex from St Andrews Goldfields for C$20 million (£10.08 million).

 

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