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Thursday, 18th December 2008 (992 views)

Minerva Resources has reported that the gold assay results from the third phase of drilling at its Tulu Kapi gold project in Ethiopia has continued to prove "thick intersections of good grade gold mineralisation at the south end of the exploration grid".

Assay results for the last four holes of the company's latest diamond drilling programme indicated a number of significant intersections in drill hole TKBH 25, including 2.2m at 2.2 g/t gold, three metres at 5.4 g/t gold, nine metres at 2.1 g/t gold and 2.9m at 15.2 g/t gold.

In its latest exploration update, Minerva Resources revealed that the final stage of the inferred resource drilling programme has commenced with four new drill holes completed and initial assay results from phase four are expected in January 2009.

Terry Ward, Minerva managing director, commented: "These results together with continuing work at nearby prospects of Dina, Gudeya-Guji and Guji, continue to establish this area as a developing regional gold province."

Based in the UK, Minerva Resources is listed on the Alternative Investment Market in London and the company is focused on resource development in Ethiopia.

 

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