Wednesday, 22nd October 2008 (264 views)

American Bonanza Gold has revealed that it has encountered extra high-grade gold values during the latest exploration programme at its Copperstone project in Arizona.

The south-west zone of the site "could contain enough high-grade gold to enhance the economics" of the project, the company stated.

In addition, the high-grade area is located just 1,000 metres away from the current underground mine workings and resources, it noted.

Highlights from drilling results obtained in this zone include 10.5 g/t gold over three metres, 5.4 g/t gold over 9.1 metres and 17.3 g/t gold over 0.9 metres.

So far, six drill holes define the south-west zone, all of which contain "significant" gold intercepts, the firm said.

Follow-up drilling is now being drawn up for this area in order to probe it further.

Meanwhile, AuEx Ventures has reported that it will retain a 49 per cent stake in the Long Canyon gold discovery in Elko County, Nevada, while Fronteer Development will keep a 51 per cent interest.

 

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