With the drilling of progressively deeper holes within the Jugan Hill deposit, the company expects to find higher grades at depth below the existing shallow resource.
Diamond drill hole JUDDH-68 intersected 24.50 meters @ 7.15 g/t Au, including 11.50m @ 10.4 g/t Au from 317.50m to 342.00m down-hole.
The company’s CEO, John Seton said that the discovery provides further evidence that gold mineralization continues down dip as well as along strike.
"This fact, along with the continued success of our step-out drilling increases our confidence that Jugan Hill has large-scale development potential," he added.
"It’s our belief that the surface deposits at the Bau goldfield are the shallow expression of deeper higher grade deposits just as it is true in many carlin-style deposits in Nevada which Bau has been closely compared."
