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Thursday, December 01, 2005

TasGold has surface success

MiningNews.net + TasGold has surface success

JUNIOR explorer TasGold says it has hit significant near surface gold mineralisation at its Gowrie Park project in Tasmania ahead of a resource update early next year.

Drilling of the 666 Lode at the Narrawa prospect returned hits of 3.2m at 10.2 grams per tonne of gold and 32.3m at 1.19gpt of gold.

TasGold said the Narrawa prospect had the potential for a moderate size and grade polymetallic resource, but the company's intention was to track the mineralisation in an attempt to define a larger more significant deposit.

The company said if the lodes at Gowrie Park continue consistently at depth, TasGold could be gold mining within a few years.

Following completion of drilling at the 666 Lode, expected before the end of the year, TasGold expects to calculate a revised resource for the project by early next year. The Narrawa prospect currently has an inferred resource of around 25,000 ounces of gold.

MiningNews.net was unable to reach TasGold managing director Peter McNeil.

Shares in TasGold hit a 52-week high of 20.4c in January before slipping to a 52-week low of 7.8c in May. The stock gained 0.2c (2.4%) during morning trade to 8.4c.

Click here to read the rest of today's news stories.

Tasgold's projects in Tasmania.


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