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Tuesday, 31st March 2009 (872 views)

The potential to create a high-grade gold operation at Red Back Mining's Chirano site has been confirmed by its latest resource update, the company said.

Red Back Mining has completed drilling at the Paboase South and Suraw underground deposits and announced an initial inferred resource for the area.

Reported at a 2.0 g/t cut off, investigation of Paboase South yielded 3.5 g/t while 4.1 g/t was found at the Suraw deposit.

President and chief executive of the company Richard Clark stated that the results are very encouraging.

"Infill drilling of the surface deposits at Chirano over the last three years has identified the potential for other high-grade underground operations, in addition to the Akwaaba Deeps discovery," he said.

Last week, the Red Back Mining announced increased proven and probable resources at its Tasiast Gold Mine in Mauritania.

Reserves at the site have been increased by 119 per cent since the firm acquired the property in August 2007.

 

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