Business
Exploration at Suzdal
Exploration at Suzdal.
About this update from Cerillion Plc
[{"type":"text","content":"\n Celtic Resources Holdings PLC\n01 November 2007\n\n \n Celtic Resources Holdings Plc\n (\"Celtic\" or \"the Company\")\n\n CONTINUED POSITIVE EXPLORATION RESULTS AT SUZDAL GOLD MINE\n\n\nCeltic announces that recent exploration at its 100% owned Suzdal gold mine in\nKazakhstan has continued to define high grade extensions to the 1.376m ounce\ngold resource.\n\nFollowing promising results which were reported in a May 2007 Resource Update,\nan enhanced exploration programme for Suzdal was developed with three key\nobjectives:\n\n • To confirm the extent and continuity of existing resources\n\n • To test for extensions to known mineralisation, especially the higher\n grade zones of Orebody 1/3 and Orebody 2\n\n • To explore for new zones of mineralisation within the Suzdal licence\n area\n\nThis programme has been continuing with two surface rigs and one underground\nrig. Since the May 2007 exploration update, a total of 10 surface holes and 23\nunderground holes have been completed.\n\nUnderground drilling was targeted at two main areas - resource confirmation\ndrilling in Orebody 2, and exploration drilling at Orebody 1/3.\n\nResults at Orebody 2 are very encouraging and provided increased confidence in\nthe Orebody 2 resource and demonstrated the potential for higher grade zones\nwithin the broader resource. Best results from Orebody 2 drilling included:\n\n • 7m at 9.72g/t Au from 18m\n • 3m at 6.97g/t Au from 7m\n • 4m at 11.58g/t Au from 33m\n\nIn Orebody 1/3 encouraging results have been returned from face sampling of\ndevelopment drives at the eastern portion of the orebody where no resource was\npreviously defined. This area has been largely untested by drilling due to\naccess problems from the open pit. Three drives have been extended into this\narea and have returned the following:\n\n • 193mRL Drive - 43m strike, 2.5m average width at 7.4g/t Au\n • 193mRL Drive - 41m strike, 2.0m average width at 14.6g/t Au\n • 206mRL Drive - 43m strike, 2.7m average width at 14.1g/t Au\n • 214mRL Drive - 38m strike, 2.2m average width at 9.2g/t Au\n\nCeltic Resources Managing Director Kevin Foo commented, \"These results provide\nfurther encouraging signs of the potential to add to the high grade resources at\nSuzdal. We will incorporate these findings into a revised resource model in due\ncourse\".\n\n\nContact ...