Exterra Resources (ASX:EXC) shares have jumped to $0.025, from $0.016, following the completion of drilling which intersected visible gold in numerous holes at its Linden gold project in Western Australia.
The program consisted of 24 holes for 1,545 metres over 7 targets throughout the Linden project area.
Notably, a number of holes reported significant quartz veining and sulphides, and panning of drill cuttings has indicated the presence of visible gold at a number of locations.
In addition, the Linden Project hosts the Second Fortune underground mine which is currently the subject of a Pre-Feasibility Study into commencing mine development during 2014.
Results from the PFS are due shortly.
Exterra is modestly valued at $4.5 million and holds around $600,000 in cash.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.
News: Exterra Resources shares rise on gold assay anticipation
Add to My Watchlist
What is My Watchlist?