Tuesday, 16th August 2005 (2432 views)

Pele Mountain Resources has found more high-grade gold on its Highland Gold project in Ontario, Canada.

After the presence of gold was confirmed last spring an eight-hole drilling programme took place in both the Springbank and Talisker areas, which are located in the Porter-Premier property.

The Talisker holes returned high-grade mineralization, notably an intersection of 8.36 grams per tonne (g/t) gold over 8.16 metres.

Similarly, the Springbank holes confirmed near-surface high-grade gold including 12.7 g/t over 2.45 metres, 7 g/t over 5.35 metres and 9.9 g/t over 2.5 metres.

The discovered gold is in the western Goudreau-Lochalsh Deformation Zone (GLDZ) close to the central GLDZ that has seen considerable gold-mining in recent times.

"Given the productive history of the GLDZ, we are proceeding at Highland with a strong belief in the potential to outline substantial gold resources on our properties," explained Al Shefsky, Pele's president and chief executive officer.

Second-phase drilling will be carried out at both Springbank and Talisker.


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