Scotgold Resources have increased confidence in Cononish project
17 July 2012 | 10:54am
StockMarketWire.com - The confidence of Scotgold Resources in its project at Cononish has increased after seeing the assay results from the first three holes from their infill drilling programme.
The infill programme within the inferred resource zone above the 400m level continues to discover high grades and excellent widths of gold and silver mineralisation.
Chris Sangster, CEO, said: "These results from the initial phase of the infill programme continue to confirm the high grade nature of the Cononish vein.
"The programme is designed to increase the debt capacity for the project by demonstrating with increased certainty the presence and continuity in the high grade ore in the section that will be the first to be mined.
"Together with the pre-development funding from RMB announced recently, the company is well placed to progress towards first production."
At 10:54am: (LON:SGZ) share price was +0.38p at 4.75p
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