Wednesday, 10th October 2007 (1487 views)

Results for ten holes of an exploratory drilling programme that began in June at the Volta Grande gold property have shown further confirmed continuity of mineralisation between previously drilled holes, Verena Minerals reported.

Initial results from two holes at the Pequi target, located at the south-east end of the gold property, show that the area has potential for new discovery and that more drilling is needed to test the extent of the zone of mineralisation.

The company plans to complete drilling on 14 additional exploration holes on the property by the end of November 2007, with follow-up drilling scheduled for the first quarter of 2008.

Volta Grande, located in Para State, Brazil, is estimated to contain 1.7 million ounces of gold, according to Verena Minerals.

The company, headquarted in Toronto, Canada, holds operations on two other gold projects in Brazil – Monte do Carmo and Patrocinio – as well as the past-producing Bonfim gold mine.

 

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