This is great news that they actually got a rig before Xmas. They are hard to find at the moment.
All these grounds that we acquired for $75k (including Southern Star)were bought by Regis at one stage for about $20mill. They obviously had high hopes here until they dropped the ball.
The important fact for me in this announcement is below. Garden Well was discovered off the back of Air Core drilling as well. Nearby Gold Deposit Comparisons The Amy Clarke Gold Prospect is only 3km directly along strike from Regis Resources Limited’s recently exhausted 322koz @ 1.9 g/t Au Erlistoun Gold Mine (Refer ASX: RRL Announcement 18/1/11). Page 5 of 6 Furthermore, the largest gold deposit in the Duketon Greenstone Belt, Regis’ 2.1Moz @ 1.4 g/t Au Garden Well Gold Mine, was discovered on the back of a soil anomaly of similar size and tenor (Refer ASX: RRL announcement 8/3/11).
GSN Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
