Wednesday, 23rd May 2007 (2056 views)

Los Patos gold occurrence assay results continue to provide high grades to ValGold Resources, which the firm has described as "significant".

Specifically, it is the Increible Concession in the El Callao Mining District, Bolivar State, Venezuela, which has been the subject of the latest round of drilling.

Three of the 12 drill holes recently created were called "very important" due to the fact that these were the deepest that have been made to date and these returned gold grades that surpassed expectations.

Gold Fields had tested the area before for gold mineralisation between 1992 and 1995 and during its programme of exploration received "very encouraging" results.

In a statement, the firm announced: "ValGold has been highly successful in redefining Los Patos through its first 12 drill holes. The zones appear to be continuous over a minimum plunge length of 200m and to widen to a true width in the order of 35 m, approximately double the average width near surface."

 

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