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Monday, 30th October 2006 (3391 views)

Ventura Gold Corporation has started its latest drilling program at its Cottonwood Peak project in Nevada.

The initial core drilling programme will comprise of ten holes testing anomalous gold values and geophysical anomalies over an extensive zone. The hole depth will total some 2,000 metres.

Cottonwood Peak is nine miles west of the historically significant Jenrritt Canyon gold mine owned by Queenstake Resources.

The production of Nevada's mines has been estimated at 250,000 ounces of gold since 1867, according to Nevada Bureau of Mines.

The property hosts precious metal values such as 10.2 grams of gold per tonne as well as 525 grams per tonne of silver in some parts.

This project is a joint venture with partner Zappa Resources using two core rigs supplied by Boart-Longyear Company.

Ventura can earn up to 70 per cent interest in the property from Zappa if it keeps to three stipulations including the completion of a feasibility study within a six year period.

 

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