Dragon Mining (ASX: DRA) has been released from a trading halt this morning after releasing results from the Kuusamo gold project in Finland, with the company's shares rallying 10% higher in morning trade to last change hands at $1.33.
The latest highlights from a scissor hole at the Juomasuo project targeting the known gold bearing lodes returned; 8.95 metres at 11.42 grams per tonne (g/t) gold from 60 metres, and 8.40 metres at 10.06g/t gold from 77 metres.
In addition two intervals located within the mineralised envelope have been shipped to the ALS Chemex Laboratory in Vancouver for specialised sample preparation and assaying.
Dragon said the intercepts provide evidence of the continuation of the eastern most lode and/or the presence of new lode(s) in the area, which has previously been subjected to only limited near surface drilling.
Exploration is also ramping up at the project, with a third rig now mobilised to site.
Juomasuo is the largest of the five deposits identified to date within Kuusamo.
Kuusamo is located 700 kilometres northeast of Helsinki, and comprises a series of tenements with a combined Indicated and Inferred Resource of; 2.19 million tonnes at 5.4g/t gold for 383,500 ounces.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/17562/dragon-mining-shares-soar-10-on-high-grade-gold-hits-at-kuusamo-in-finland-17562.html
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
No comments:
Post a Comment