Golden Peaks reports Tanoyan drilling results
Thursday, September 1 2011 - 12:18 AM WIB
Highlights of the results include intersections from holes TND 056: 16.5 metres at 2.0 g/t Au from 73.9m (Interpreted true thickness 14.1m), including 4.6 metres at 5.7 g/t Au from 73.9m (Interpreted true thickness 3.9m), and TND 058: 3.0 metres at 3.2 g/t Au from 124.75m (Interpreted true thickness 2.6m).
The company currently has 2 diamond drill rigs operation at Tanoyan. Rig 1 is drilling the Sondana Vein system, rig 2 has concentrated on the Modupola Vein system which is located approximately 1 Km to the east of Sondana Vein. Both veins systems are part of an extensive system of auriferous quartz veins, hosted by andesitic volcanics, which have been traced over a strike length of approximately 5,600 metres.
Golden Peaks' President Scott Emerson commented: "This is our second release of drilling results from Tanoyan and it is a strong follow-up to the first set of results from the Sondana Vein, released recently. It is very gratifying to see consistent geological correlations of the veins and gold mineralisation in cross sections and with continued drilling, building a growing geological model which will form the basis for significantly increasing the initial NI 43-101-compliant Inferred Mineral Resource of 2.22 Mt at 1.3 g/t for 91,100 ounces of contained gold." (alex)