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Gammon Gold Announces Initial Reserves at Three new Discoveries at its Ocampo Operation
Gammon Gold Announces Initial Reserves at Three new Discoveries at its Ocampo Operation
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\nGammon Gold Announces Initial Reserves at Three new Discoveries at its Ocampo Operation\n\n\n Sep. 23, 2010 (Newsfile Corp.) -- Toronto, Ontario--(September 23, 2010) - Gammon Gold Inc. (“Gammon” or the “Company”)(TSX:GAM and NYSE:GRS) is pleased to report an initial 127,750 gold equivalent ounces(1) in Proven and Probable Reserves at three new discoveries made at Ocampo. These three new deposits have been discovered through the first phase drilling program during the first half of 2010. Two of the new discoveries are underground deposits; Santa Eduviges (Reserves of 44,961 gold equivalent ounces(1)), currently being developed as the second underground mine at Ocampo and Belen/Santa Juliana (Reserves of 50,529 gold equivalent ounces(1)), which are new veins discovered in the main NE underground mine. The third new discovery, Las Molinas, is a new open pit deposit (Reserves of 32,260 gold equivalent ounces(1)). These Reserves will be updated during the second half of 2010 and will be incorporated into the 2010 Reserves and Resources Statement along with additional Reserves and Resources delineated through the Company’s ongoing drilling program at Ocampo in the second half of the year. The Company expects to issue the 2010 Reserves and Resources Statement by the end of first quarter of 2011. “We are particularly pleased that these additional reserves were from new discoveries.. These initial results highlight the potential of the Ocampo property as well as our surrounding land package,” stated Rene Marion, President and CEO of Gammon. “For the remainder of 2010, we plan to complete an additional 45,000 metres of drilling at Ocampo targeting additional in-pit resources along the PGR Trend, as well as new open pit and underground targets.” Scientific or technical information in this Press Release relating to Mineral Reserves for the Ocampo property have been prepared and verified by employees of Gammon Gold (TSX:GAM) Inc. under the supervision of Ramon Luna, P. Geo. Mr. Luna, is a “Qualified Person” as defined in National Instrument 43-101. About Gammon Gold Gammon Gold Inc. is a mid-tier gold and silver producer with properties in Mexico. Gammon’s flagship Ocampo Property in Chihuahua State achieved commercial production in January 2007. Gammon Go...