Tuesday, 14th June 2005 (2744 views)

Oxiana, the Australian mining and exploration company, has announced plans to commence drilling in two gold belts in Thailand.

The company is waiting for approvals from the Thai Department of Mineral Resources (DMR) before beginning to drill for gold at Phichit and Phetchabun in conjunction with Thai Goldfields.

Preliminary exploration results from two fields, Wang Yai and LD, at Phichit are encouraging, according to Owen Hegarty, the managing director of Oxiana.

"We haven't spent huge money on exploration yet. However, we have found highly encouraging results at LD,' Mr Hegarty told the Bangkok Post.

Findings from the field study and computerised technology include gold grades of 13.4 grammes per tonne (g/t) at a depth of 14 metres, 5.4 g/t at 12 metres and 5.32 g/t at seven metres.

Mr Hegarty said that, subject to receiving the statutory approvals, Oxiana would undertake a year-long programme of drilling, with mine construction requiring another two years, should it prove feasible.

 

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