Avoca confirms new Higginsville discovery
Friday, 22 August 2008 - Mining News -
RECENT infill drilling at Avoca Resources’ Higginsville gold project in Western Australia has confirmed the discovery of the Musket prospect.
Better results included 10m at 5 grams per tonne gold from 54m, 8m at 5.5gpt gold from 50m, and 2m at 6.6gpt gold from 28m.
The infill reverse circulation and diamond drilling was undertaken after the company intersected 18m at 10.9gpt gold at Musket in April.
The Musket mineralisation is 300m long, has been tested to a depth of 200m and remains open in all directions.
Avoca said its focus at Musket is to define sufficient resources to develop an open pit mine capable of providing additional feed to its recently commissioned 1 million tonne per annum Higginsville treatment plant.
Musket will be the focus of an aggressive drilling program over the next year, the company said.
The company has set aside $11 million for Higginsville exploration over the coming financial year.
The new Musket prospect is 40 kilometres southeast of the Trident prospect, where the Higginsville plant is also located.
Shares in Avoca Resources jumped up 9.26% or 15c to $1.77 this morning.
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