High grade potential and new zones of mineralisation have been identified from recent exploration drill results at the Gairloch gold project’s Kerry Road deposit. MINERALISED TREND Galantas Gold Corporation’s fifth hole 23-GL-05, targeting a geophysical anomaly, intersected 1.87 g/t gold, 1.17% copper, 1.20% zinc, 131 g/t cobalt and 7.06 g/t silver over 34.25 metres. Drilled […]
Tag: gold
Scotgold in advanced talks with new strategic investor
Scotgold Resources Ltd said it was in “advanced discussions” with a new strategic investor after its previous most advanced prospective investor withdrew from negotiations. ADMINISTRATORS The Australian company added that an agreed financing deal to develop the Cononish gold-silver mine, would provide sufficient funds to continue as a going concern. “Whilst financing discussions are at […]
Alba Mineral dewaters Clogau to level 3
Alba Mineral Resources plc has dewatered the lower Llechfraith workings at Clogau-St David’s gold mine to level 3 and completed field work at the historic Caerwych mine site. LOWER LLECHFRAITH The programme began following Natural Resources Wales’ refusal to allow a higher pump rate after heavy rainfall reflooded the lower Llechfraith workings. The company said […]
Power Metal exploration focuses on six targets at Tati
Power Metal Resources plc has restarted field exploration at its Tati gold project on the Tati greenstone belt near Francistown, Botswana. KEY AREA The owner-operator previously identified two gold-in-soil geochemical anomalies and continuity within the 8km gold trend at the site. Six unique additional target areas have now been identified for detailed soil sampling which is […]
Scotgold could appoint administrators ‘over coming days’
Scotgold Resources Ltd said it could appoint administrators over the coming days after a prospective investor withdrew from financing discussions for the Cononish gold-silver mine. The Australian company, which last week put some of its staff on unpaid leave, also faces action from an unnamed creditor. In a statement today, Scotgold said: “The company has […]
Scotgold staff on unpaid leave
Scotgold Resources Ltd has placed employees on “short term unpaid leave” and is talks with an “administration specialist” while it faces action from a creditor. FINANCING The Australian company continues “financing discussions” to develop its Cononish gold and silver mine and reached an advanced stage with “confirmatory diligence being undertaken”. “These have not yet reached […]