Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
Tuesday, 2 April 2013
Celeste Mining sees further potential in Dolcoath section of South Crofty tin project
Celeste Mining Corp. (CVE:C) has revealed more strong drill results from the underground drilling program at its South Crofty tin project in the U.K., showing wide intercepts of disseminated mineralization in the Dolcoath section.
The drill program is being carried out by Cornish Minerals, into which Celeste can earn 100 per cent under an earn-in agreement signed in May 2011.
Last year, Cornish drilled 28 holes as part of a drill program ongoing since 2008, with 145 holes now having been drilled, or a total of 28,000 metres.
Late Monday, Celeste revealed the results of five holes completed in 2012. Highlights include 9 metres at 0.72% tin equivalent in the South Entral Lode, including 4 metres at 1.35% tin equivalent, and 17.52 metres at 0.42% tin equivalent in the Dolcoath Main Lode, including 2 metres at 0.91% tin equivalent.
The company said in its statement that it has seen unanticipated delays in obtaining assay results over the past three months, but the backlog is expected to reduce over the next two months.
The latest holes revealed were drilled to the south of a decline driven to the west of the South Crofty mine, Celeste said, situated between the upper levels of mineralized structures that originally formed part of the Dolcoath mine that was closed in 1922 and separated from the South Crofty mine by a major fault known as the Great Crosscourse.
"The wide intercepts of disseminated mineralization in the Dolcoath main footwall zone now represent a strike length of some 150m and substantial dip extent," said the company in the release, citing CEO Alan Shoesmith.
Indeed, additional drilling is now taking place some 100 metres west to investigate the strike extent of this zone, and "the higher grade but narrower" South Entral lode, he added.