re: Ann: EVG receives encouraging results - E... Envirogold...

re: Ann: EVG receives encouraging results - E... Envirogold samples as high as 87.7g/t gold

Source: News Bites


Rockchip sampling by a consultant at Envirogold Ltd's Papercorp mine, Equador, has shown samples as high as 87.7g/t gold, confirming the project's potential to carry more than 1 million ounces of gold.

Of the first 165 sample results, 25 were greater than 10g/t gold, while another 38 were above 5g/t gold.

The company is earning a 65% interest in the Papercorp and Pinglio underground mines by spending $US6.5 million on the projects over the next two years.

Metallurgical testwork to establish the appropriate processing methods will begin in the short-term, but planned diamond drilling has been delayed a few months, due to government restrictions.

Envirogold plans to expand the mines to a combined production of 100,000 ounces a year.


STOCK DASHBOARD: January 25, 2010

Envirogold

Price at 1:00 pm: 8.0c

Relative Strength (6 months percentile rank): 53.5

Market capitalisation: $28.2 million

Price/Earnings: 11.8 times

Turnover volume: 125,000.0

Volume Index (1 is average): 0.4

Turnover value: $10,000

Turnover period: 2 years 4 months

Source: www.BuySellTips.com