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Wednesday, 23rd May 2007 (2853 views)

There is potential at Emed Mining's Slovakian tenements to host "substantial" gold deposits, the company has announced after a recent bout of drilling work.

Results from the Biely Vrch Prospect at the Detva Licence in central Slovakia were gathered in the past few days with the average gold grade proving to be 1.1 gram per tonne over 331 metres.

Previous drilling work combined with this latest exploration has confirmed to the company the presence of gold mineralisation to a vertical depth of 460 metres.

Speaking of the plans to consolidate the tenements, Emed's managing director Harry Anagnostaras-Adams commented: "We look forward to working with Gold Fields Limited, which has recently become a 10 per cent shareholder in our company and formed an alliance in respect of EMED Mining's Slovakian interests."

He added that the work currently going ahead at the Biely Vrch Prospect was "at a very exciting stage" before stating that assay results had only been received for five of the drill holes completed so far.

 

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