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Friday, 16th July 2004 (4693 views)

Gold resources at the Siberia Mining Corp have reached a crucial mark causing shares in the company to rocket by over 20 per cent.<BR/><BR/>Its resources of the precious metal have now reached the one million ounce mark, at an estimated 1.21 million ounces of gold.<BR/><BR/>According to The Age, the resources have increased by 34 per cent and the business is now conducting a feasibility study for an underground mine at its Sand King project.<BR/><BR/>Siberia technical manager Adrian Byass said: "What we are starting to see is a very robust total mining operation with the potential to continue to significantly extend the life of the company's gold production."<BR/><BR/>In addition the firm has found a new zone for gold following drilling at a site between Missouri and Sand King.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3043001"/>

 

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