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Thursday, 26th May 2005 (4433 views)

Oceana Gold has discovered two new gold intersections below its current pit at the Globe Progress mine.<br/><br/>The move follows an announcement last week by the firm to possibly reopen two historic gold mines.<br/><br/>Globe is based near Greymouth and close to Reefton and could significantly increase reserves.<br/><br/>The miner began exploration in September 2004, before which there had not been any exploration in the Reefton gold area since 1997.<br/><br/>Work has so far included extension drilling, open pit development and data interpretation.<br/><br/>Oceana claims that the findings support its comments that there is potential to extend reserves throughout the district.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8595663"/>

 

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