Thursday, 18th August 2005 (2747 views)

The Canadian mining company, Greystar Resources has announced that its Angostura property contains more gold than it originally thought.

The company has increased its gold estimate by almost 70 per cent and now expects that 5.83 million ounces are contained within the Angostura site.

These revelations follow its drilling program which Greystar's executive vice-president, Fredrick Felder, has hailed as a success.

"The [gold] deposit remains open in all directions indicating the potential for further increases is favourable," he said.

Greystar has also upped its silver estimate for the property.

Currently, the Angostura property in northeast Columbia is Greystar's main project.


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