The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Tuesday, 23rd September 2008 (3128 views)

New Asia Gold has announced that exploration on its Kapur project has shown that "promising smaller deposits" exist in the area.

Drilling has provided results that are of "excellent quality" and an estimated 330,000 proven ounces of gold are present at the project, the firm stated.

It is felt that a number of relatively small ore bodies will culminate in millions of ounces of gold, that will be defined by a future drilling programme.

An independent report suggested that the value of the project will increase to $626 million (£336 million) after recovery costs.

Chief investment strategist John Embry remarked that firms such as New Asia "present the best opportunity to leverage the coming gold explosion".

Meanwhile, in other recent Asian gold developments, Canada-based Jinshan Gold Mines and China National Gold Group proposed a merger in order for the Chinese firm to benefit from Western technology.

 

« Back to Gold News stories