is exm close to wgr

Does anybody know how close this is to exm


Westgold jumps on first Tennant Creek results

Kate Haycock
Wednesday, 4 June 2008

JUNIOR gold explorer Westgold Resources’ drilling work at the Rover 1 prospect at Tennant Creek has begun with a bang, announcing a tidy intercept of almost 66m at 11 grams per tonne gold.



The company’s shares were given a kick along by the results and rose to a high of 45c, a jump of almost 80%, before settling back to 38.5c by close of trade.

The “bonanza” results came from the second drillhole from Rover 1 and included some handy by-product credits as well.

The intersection of 65.75m at 11 grams per tonne gold, 0.75% copper, 0.09% cobalt and 2.5gpt silver from 492m included two higher-grade hits of 11m at 18.3gpt gold and 15.75m at 29.4gpt gold.

The drilling marks the first exploration carried out in the area for two decades, and Westgold said the results confirmed the area’s potential and the potential of by-product credits alongside any future gold production.

“We have now confirmed the historical mineralisation and provided important geological and structural information to assist with targeting of our ongoing drilling,” Westgold chief executive Andy Beckwith said.

The company aims to establish a JORC-compliant resource at the Rover 1 prospect by the end of this year.

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