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Thursday, 31st August 2006 (3422 views)

Canadian mining corporation Greystar Resources has reported multiple high-grade gold deposits at its Angostura property in South America.

The site, located in north-eastern Columbia, has returned results including 48 grams per tonne of gold over ten metres and 168 grams per tonne over 1.35 metres.

The most profitable findings at the venture were discovered at the Veta de Barro East zone, which has also been found to feature several broad, low-grade deposits of gold.

However, Frederick Felder, Greystar's executive vice president, admitted that the company had not finalised their plans for the development as yet and that they were looking to be more cautious in the future than they had been with exploration so far.

"The very high-grades within the potentially bulk mineable structure in this area and more importantly the continuity in space and grade of these structures in the more recent drill results suggests that the grade cutting utilized in the most recent resource estimate may have been overly aggressive and a re-evaluation of this area is warranted," he said.

 

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