High-grade gold hits for Sub-Sahara Rebecca Lawson Friday, January 25, 2008 Source: Miningnews.net
SUB-SAHARA Resources has intercepted high-grade gold hits from diamond drilling at its Koka prospect in Eritrea, with values of up to 89.62 grams per tonne.
Sub-Sahara's Zara project is about 240km northwest of Asmara
Latest drill results from the prospect, located within the Zara project, will boost the company's resource estimate later down the track, with the results not expected to be included in the resource announcement next month.
Results include 6m at 89.62gpt gold from 52m, 4m at 20.55gpt gold from 10m, 3m at 34.98gpt gold from 8.5m, 10m at 6.45gpt gold from 37m and 6.5m at 7.81gpt gold from 22.5m.
The company said the mineralisation at Koka extended over 600m and remained open along strike.
"The strong results received to date from our exploration drilling of the Zara project, coupled with the news late last year that the Eritrean Government approved its first mining application, are all tangible signs that point to Eritrea becoming a gold producer in the near future," managing director Mike Griffiths said.
Zara is a joint venture between Sub-Sahara and Dragon Mining, which holds a 20% interest and is free-carried through to the completion of a bankable feasibility study.
The project has an inferred resource of 760,000oz of contained gold from 7 million tonnes grading 3.4gpt gold.
Shares in Sub-Sahara closed up 0.4c to 7.4c today.
SBS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
