Friday, 1st February 2008 (3011 views)

Chapleau Resources has discovered a "significant new zone" containing high-grade gold at its Coringa gold property in Brazil.

The find is the result of an ongoing 42-hole drill programme at the site and samples include values of 28.80 g/t gold.

Chapleau said the samples were "very encouraging" evidence that mineralisation at the site extends beyond previously drilled holes.

To date, a total of 26 holes covering 2,850 metres have been drilled at Coringa.

Chapleau acquired the property in June 2006, although local mining operations had been going on since the 1970s. However, no drilling had ever taken place there until the company started its programme in March 2007.

Chapleau says unofficial local estimates put the amount of gold recovered from Coringa over the years at ten tonnes.

Coringa is located in the state of Para in north-east Brazil. It is part of a district that includes several medium mining operations and gold projects, including the Palito mine and Tocantinzinho property.

 

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