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Thursday, 27th September 2007 (2672 views)

Following the completion of first stage drilling at the Mochila gold occurrence, Resourcex Investor has reported that further ValGold drilling results are expected to be made available in the coming weeks.

Mid-September results showed over ten square kilometres of broad gold soil anomalies at the Mochila gold occurrence and gold enriched along specific layered contacts of the Mochila layered complex.

Mochila, which is Spanish for "knapsack", is ValGold's main target in Venezuela and is thought to have a "highly favourable" geological setting, according to the company.

Located in Bolivar State, Venezuela, Mochila represents ValGold's expanding presence in the country, according to the investment publication, which says it is "uniquely well-placed for success" due to its good relationship with Venezuela's mining-friendly government and its involvement in underexplored properties.

ValGold, a Canadian international development company, is currently exploring properties in Canada and Guyana, as well as the Chicanan West Complex – which contains the Mochila occurrence, as well as ten other mining concessions – in Venezuela.

 

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