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Friday, 16th November 2007 (3041 views)

More high-grade gold mineralisation has been discovered during a drilling operation in Mexico's Orion District, it has emerged.

Nayarit Gold announced today that it was "encouraged" by the progress it had made so far on the site.

The latest operation in the Orion district – 7,000 metres of diamond drilling – is part of a larger Phase One drill programme on the site, which is expected to wrap up by the end of the year.

Colin Sutherland, president and chief executive officer of Nayarit Gold, said the results from the current drilling operation have been "very promising" so far.

"We continue to move forward with our drilling and will incorporate the data from our projected 2008 Phase Two drill programme into a resource calculation slated to be completed next year," he said

Formed in 2005, the company currently has control of around 102,000 hectares of land in the Mexican state of Nayarit.

The company is set to make a presentation at the London World Money Show later this month.

 

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