29th Jan 2016 10:07
LONDON (Alliance News) - Scotgold Resources Ltd on Friday released the results of a study carried out by Consulting de Geología y Minería SL on the Cononish gold and silver project.
The company is aiming to advance the Cononish project in Scotland's Grampian Highlands "to a production decision and exploration of the highly prospective tenements comprising the Grampian gold project with the view of identifying further project opportunities".
The highlights included six "highly prospective" targets identified within 2.5 kilometres of the Cononish gold and silver project, as well as five further "highly prospective" targets outlined within the study area.
The study highlighted the Beinn Udlaidh and Arrivain areas "in particular as having prospectivity at least comparable to the Cononish deposit" and further exploration work for these is being prioritised accordingly.
It also indicated that structural analysis will be a "key tool" for the identification of "pay shoots" within the Cononish deposit. There it is expected to assist with future resource expansion at depth and along strike.
"Further work is now being planned to expand the collection of structural data and coverage of the prospectivity map regionally," Scotgold said.
Shares in Scotgold were down 7.3% at 0.510 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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