Thursday, 2nd June 2005 (2643 views)

Queenstake Resources has announced that its underground exploration in Nevada continues to turn up high-grade gold mineralisation.

The company's underground exploration and resource conversion programme is in progress at four mines at Jerritt Canyon in north-eastern Nevada.

Zone Seven at the Murray Mine looks particularly fruitful, with the estimated measured and indicated resource, including reserves, at 112,900 tons at 0.243 opt, containing 27,400 ounces of gold.

"We continue to have success with our underground exploration program at Jerritt Canyon's operating mines," said Dorian Nicol, president and chief executive officer of Queenstake.

"The results of the Murray drilling indicate the likelihood that Zone Seven will continue to grow as well as to increase in grade."

Queenstake's CEO also indicated that some of the highest grades in drill intercepts are from Smith Mine.

 

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