Monday, 31st March 2008 (695 views)

Allied Nevada Gold has issued drilling results for 26 exploration holes completed at the Hycroft heap leach mine near Winnemucca, Nevada.

Much of the latest drilling has been concentrated on the Fire and Brimstone zones of the property and since January, the programme has been focused on defining oxide resources in this area.

To date, some 161 drill holes have been completed at Hycroft to a total depth of 37.18 metres. These include 123 reverse circulation drill holes and 28 core holes.

Highlights of the results from the latest batch of completed holes include intersections of 7.83 g/t gold over 1.52 metres, 4.47 g/t gold over 1.52 metres and 2.36 g/t gold over 1.52 metres.

There were also returns of 1.05 g/t gold over 44.1 metres, 2.58 g/t gold over 6.09 metres and 0.83 g/t gold over 37.6 metres.

Rick Russell, Allied Nevada's vice-president of exploration, said: "We are encouraged by the results of approximately 50 Fire and Brimstone oxide drill holes received to date."

Hycroft is estimated to have a total of 1.1 million ounces of gold in measured and indicated resources.

Production at the mine is scheduled to start in the fourth quarter of 2008.

 

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