great announcement today Things look very promising for cortona...

great announcement today Things look very promising for cortona indeed....all of the gold found so far is very shallow (60m) or less which means it won't take too much to get it out of the ground.

They state in the annoucement that..."The Company will now review the data in detail, and plan the next phase of drilling with the aim of estimating an initial resource." So hopefully there will be an initial resource upgrade in the next few months.

Another interesting statement in the announcement is that they plan an aggressive exploration program...."During this review period, Cortona will continue its aggressive exploration with a RAB-drilling program designed to test one of the outcrop discoveries identified during last years mapping of the North Monger Project. The newly named ‘Lucia’
prospect is interpreted to lie in the same structural and stratigraphic position as Perilya Mining’s Daisy Milano mine (~260,000oz resource) which is located just
5km to the south. A RAB rig is booked to arrive on site in mid-July". Note the words daisy milano !!

Another point of interest is "The results received to date are very encouraging. The Wombola Dam area
contains gold mineralisation in the weathered and transitional zones with indications that a significant new oxide resource may be delineated that would
greatly add to the existing resource at Wombola Pit".

Cortona has done great things in a short amount of time and i think the share price will skyrocket once they sure up their resource and the big boys get hold of what they have. To put into perspective integra are in the same area and have just over a million ounces of gold....213m shares on issue....and a market cap of 43 m....cortona have 19m shares on issue...a market cap of 5m and a resource before the drilling of 33,000 ounces which will be significantly upgraded shortly....so there is plenty of upside potential there !!!