Business
Gammon Gold Announces Extension of High-Grade Gold Mineralization at Guadalupe y Calvo, Santa Eduviges Currently in Ore and Three New High Grade Underground Discoveries at Ocampo
Gammon Gold Announces Extension of High-Grade Gold Mineralization at Guadalupe y Calvo, Santa Edu...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\n Jun. 30, 2010 (Canada NewsWire Group) -- TSX: GAM / NYSE: GRS / BSX: GL7\n\n Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS): Gammon is pleased to announce that its aggressive 2010 drill program is well under way at Ocampo and Guadalupe y Calvo. Drilling at Guadalupe y Calvo has identified a bonanza grade intercept of 1.1 metres 63.39 grams per tonne gold equivalent using a gold-to-silver ratio of 55:1. At Ocampo and Guadalupe y Calvo the Company has completed 52,681 metres of the planned 75,800 metre 2010 program with new high grade discoveries identified at the Santa Eduviges, Belen, San Amado, Jesus Maria, Maria, Molinas Southwest, Rosario, and the southern extensions of Aventurero targets.\n"The Company's exploration program continues to deliver excellent results at both Ocampo and Guadalupe y Calvo where numerous high-grade drill intercepts have been identified at new discoveries during the past two months. At Ocampo we have discovered a new area with multiple veins in the Molinas SW target area, representing an entire new direction to plan future development and mining. Work last year defined excellent potential to the northeast in the San Amado district, and to the SE in the Aventurero and Rosario parts of the district, and the addition of the Molinas SW target shows that the underground mine is open to expansion now to the northwest." stated Peter Drobeck, Senior Vice President of Exploration and Business Development. He continued, "We are also pleased that upon re-initiation of drilling at our Guadalupe y Calvo project, some of the first drill holes have discovered bonanza grade mineralization that would be supportive of underground mining."\n"We are particularly pleased with our development progress at Santa Eduviges and the recent surface drilling targeting the Santa Juliana vein structures, where drilling has identified mineralization down to 200 metres, and is still open at depth. Underground development on the Aventurero vein is currently about 275 metres away from the intersection of Aventurero and Santa Juliana.", stated Chris Bostwick, Senior Vice President of Technical Services. He continued, "The Company has re-deployed over thirty pieces of underground mining equipment, including scoop trams, trucks and jumbos from El Cubo and we intend to utilize a por...