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Wednesday, 7th May 2008 (2444 views)

Exploration firm Excalibur Resources has completed a 22-hole diamond drilling programme to test for gold at the Needles property in the US state of Nevada, the company has confirmed.

The work was primarily focussed on four zones along the Arrowhead lineament fault designated as Gladius, Arrowhead, Argenta and Whopper Junior.

A total of five holes were completed around the Arrowhead mine, with gold values of 2.34 g/t gold across a true width of 4.30 metres.

Meanwhile, drill hole N-52 was completed ten metres south of these drill holes, returning a gold grade of 27.4 g/t gold over 6.74 metres.

Another five holes were completed to the south-south-east of the Arrowhead mine, returning gold assays of 2.0 g/t gold across 1.92 metres.

Following the completion of the drilling programme, the company said it intends to start a new exploration grid between the Arrowhead mine and the Whopper Junior zone, where soil sampling and geophysical testing will be carried out.

Targets identified by this work will be given a "high priority" and will be tested with further testing with diamond drilling, it added.

The Needles property covers 104 mining claims across a total area of 861 hectares of land in the former mining district of Nye County, Nevada.

 

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