Monday, 27th September 2004 (2932 views)

Croesus Mining, the third biggest locally owned gold producer in Australia, has revealed it has discovered more high-grade gold intersections at its Harlequin mine.

The precious metal is situated in a recently discovered vein of the site in Western Australia, according to Perth AAP.

Managing director Mike Ivey commented: "Being so close to the existing workings has already allowed us to commence mining the upper levels of this new high-grade vein.

"The next six weeks of drilling will give us a much better estimated on the size and potential of this system."

Results obtained so far have seen the ore surface extended and have revealed a potential to increase the area to the north and at depth.

Mr Ivey is currently in the US presenting a major gold conference.

 

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