From the Gold Letter International Research report which I I provided a link to in my previous post:
"Citigold’s exploration and studies conclude that the overall Charters Towers goldfields, currently held by Citigold, have the potential to contain up to 50 million ounces in gold mineral resources...
Early October 2007, Citigold announced strong drilling results which confirmed the geological continuity of new mineralization, additional to the existing reserves. The grades in the mineralised zones vary between 3 to 60 grams per tonne and average 16.2 g/t (over 1 metre true width), which continues to confirm the overall mineral resource grade of 14 g/t.....
With the commencement of the second drill rig, the third being readied for operation and the expected increase to five rigs in the near term, Citigold anticipates that there will be multiple increases in the holes and metres drilling during fiscal 2008...."
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