Moto Goldmines Identifies More Mineralisation at its Moto Gold Project in the Democratic Republic of Congo Says CEO Klaus Eckhof
Moto Goldmines has identified further significant mineralisation at its Moto Gold Project in the north east of the Democratic Republic of Congo According to CEO Klaus Eckhof.
(PRWEB) July 8, 2005 -- Recent drilling results from the Karagba prospect
have extended the known mineralisation and identified a mineralized zone with a
strike length greater than 200 metres, a thickness of up to 100 metres and a
potential down plunge length of over 450 metres.
"This is an exciting
prospect, with intersections of good width, which remains open along the strike
and down plunges," said Klaus Eckhof, Moto Goldmines Executive
Director.
Drilling results have returned impressive intercepts including
six metres at 4.35 grams per tonne gold, 24 metres at 3.74 grams per tonne, 34
metres at 2.76 grams per tonne and 48 metres at just over 2 grams per
tonne.
Moto already has independently estimated indicated resources of
seven million tonnes at 2.7 grams per tonne gold for 600,000 ounces Au and
inferred resources of 55.5Mt at 2.9 g/t Au for 5,210,000 ozs Au and plans an
upgraded independent resource estimate for August of this
year.
Pre-feasibility work has commenced with initial results scheduled
for October 2005. Results from independent preliminary metallurgical test work
are also promising, showing recoveries for oxide samples generally at or above
90 per cent.
"This is promising because when mining begins it will
provide ore that is easy to process with low milling costs improving margins on
a per ounce processing basis," Mr Eckhof said.
“We have four drilling
rigs operating at the moment, with two at Pakaka testing extensions to the known
deposits and completing infill to increase our confidence in these resources.”
“The other two are at our early stage prospects, Karagba and Sessenge,
and will focus on identifying future ore bodies for resource estimation
purposes,” Mr Eckhof said.
For Further information: Klaus Eckhof +61 411
- 148209, Thomas Murrell, 8M Media & Communications + 61 417 - 984 996 or www.motogoldmines.com
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Source : http://www.prweb.com/releases/2005/7/prweb259232.htm