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Tuesday, 9th March 2010 (894 views)

A "significant" gold discovery has been made at the Majestic Prospect in Western Australia, Integra Mining has reported.

The discovery site stands 22 kilometres to the north of the company's Salt Creek gold deposit, where a gold mining facility is currently in the process of being developed.

According to the company, drilling projects at the Majestic Prospect have returned results that suggest there are "good widths of near-surface, high-grade gold".

While Integra states that it is "very encouraged" by these preliminary results of the drilling programme, it adds that investors must note that further evaluation of the project needs to be undertaken before the economic potential of the site can be confirmed.

"Majestic Prospect is at a very early stage and further drilling is required," it says.

The company's Salt Creek gold deposit at the Randall's Project is the only the second gold mine development based on a new discovery in Australia over the past decade.

Production of the precious metal at the site is hoped to commence from September onwards.

 

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