More widespread gold for Heritage

06 March 2007 | 03:54 Code : 13066 Geoscience events
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Diamond core drilling west of Waihi has yielded positive results for Heritage Gold....
More widespread gold for Heritage

  Diamond core drilling west of Waihi has yielded positive results for Heritage Gold, identifying more widespread gold mineralisation than the company had previously anticipated.

Heritage Gold began drilling at Karangahake in mid-January after consent was granted to test the Rahu Ridge area in late 2006. Heritage Gold Managing Director, Peter Atkinson said the results were encouraging. “The first two diamond drill holes hit strong areas of gold mineralisation within quartz veined rock and lake sediments. The results indicate there are broader areas of gold than previously anticipated,” Mr Atkinson said. “We are satisfied with these preliminary tests, and hope subsequent drilling will provide similar encouraging results, as the gold values may well improve at depth,” he said. The company’s drilling to date has centred around three parallel structures, spanning a strike length nearly two kilometres long. Six to eight holes are to be drilled to help Heritage determine whether the Rahu Ridge zone is part of the same epithermal system that produced gold deposits at the Talisman mine. The Talisman mine contributed significantly to the more than one million ounces of gold and three million ounces of silver that was produced from the Karangahake mining centre up to 1992.

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