30th Sep 2014 11:00
LONDON (Alliance News) - Aureus Mining Inc shares were boosted on Tuesday after the company released results from the Ndablama gold project in Liberia.
The company said all the drill holes at the site intersected the mineralised system and confirm a shallow westerly dip of between 30 and 10 degrees.
It said Phase Four diamond drilling results at the site confirm the continuity of the mineralised system for a further 300 metres beyond the limits of the initial resource estimate, more than doubling the down dip extent of the mineralised system.
"The phase four drilling programme continues to return excellent results. We believe that the Ndablama target is part of a new goldfield which can be traced for over thirteen kilometres around a granite body and to date only 15% of this area has been drill tested. The Company now looks forward to developing an upgraded resource during the next quarter," said Aureus Chief Executive Officer David Reading.
Shares in the company were trading 9.8% higher at 21.4075 pence per share on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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