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Wednesday, 25th October 2006 (3301 views)

Hidefield Group, whose main interest is developing gold mines in the Americas, has reported the discovery of high grade gold deposits in Argentina.

The first two holes in Hidefield's second phase drilling programme found deposits which measured 18.58 and 90.56 grams of gold per tonne at its East Santa Cruz site.

John Prochnau, chief executive at Hidefield, said: "The company is pressing ahead to complete resource delineation work towards potential mine development with an economic scoping study planned to be completed by the first quarter 2007."

Seven new exploration licenses have also been awarded to the company so Highfield now has a holding of about 203,000 hectares in the area.

Hidefield firmly believes that the best way to maximise opportunity is to identify and acquire a number of quality projects, rather than just to concentrate on just one or two projects.

Argentina is to be the base for many of the firm's exploratory activities with expansion planned because Hidefield participates in a gold prospecting syndicate with well-respected local partners.

 

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