Tuesday, 30th September 2008 (324 views)

Colossus Minerals has discovered additional gold at the Serra Pelada project in Para State, Brazil.

Highlights from exploration drilling included 8.61 g/t gold across 26.85 metres, 5.11 g/t gold across 23.30 metres, 19.28 g/t gold across 7.5 metres and 21.13 g/t gold across 10.34 metres.

One hole returned an exceptional grade of 40.59 g/t gold across six metres.

"Given the technical challenges we faced during the early part of Phase I, it is gratifying to have achieved such excellent results to date," remarked chief executive officer Ari Sussman.

He added that results from nine extra drill holes are pending and that his team is continuing to "unlock the potential" of the project.

Meanwhile, Luna Gold recently reported results of up to 2.27 g/t gold across 31 metres from the Piaba deposit at its Aurizona project.

Spokesman Tim Searcy said the figures would have a significant impact on the overall economics of the programme.

 

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