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Tuesday, 29th August 2006 (5593 views)

Buffalo Gold has announced new results from work at its Mt Kare gold project.

The Mt. Kare mine is situated in Papua New Guinea. Diamond drilling work is currently being undertaken at the site. Work so far has indicated that there is high-grade mineralisation in the north-western Roscoelite zone.

Buffalo will continue to drill there as they look to expand this zone. The company believes that results show that the Roscoelite zone extends along the Porgera Transfer Structure.

Drilling highlights include assays of 10.4 grams per tonne of gold (g/t Au) over 49 metres, with one section of 29.2 g/t Au at eight metres. Assays of three g/t Au over 79.1 metres, 15.3 g/t Au over 40 metres, 24 g/t Au over 24 metres and 3.7 g/t over 26.6 metres were also.

As a consequence of these results, the company is looking to expand its drilling licence. Buffalo chief executive Damien Reynolds said: "We continue to be excited by the results of the drilling program. This has led us to increase the exploration license area as we believe we are just beginning to understand the true potential of this world class deposit, especially given presence of the Porgera mine just 17 kilometres away."

 

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