Thursday, 23rd September 2004 (2573 views)

Canadian mining company Madison Enterprises has released an update on exploration of its Mt Kare and Lewis properties.

The sites in Papua New Guinea and Nevada have shown positive results from drilling and trenching

Known mineral resources for the Mt Kare site stand at around 1.8 million ounces of gold, but recent exploration has revealed the gold extends beyond this area.

Meanwhile, work at the Lewis site also returned positive results, with the 1,850 feet of gold bearing zone found to be greater than was thought.

The firm also revealed that its exploration licence at Mt Kare has been extended by the Papua New Guinea Department of Mining.

Madison is planning increased drilling work at the sites and is currently working to boost market awareness of its properties and business through gold industry websites.

 

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