Golden Peaks Claims Positive Results from Tanoyan Gold, Sulawesi

Resources

Wednesday, 09 November 2011 08:30

Written by Hatman Bintang

Theindonesiatoday.com - Canada-based Golden Peaks Limited claims positive drilling results from its Tanoyan gold project in Sulawesi, Indonesia.

The TSX-listed company reported that Madupola vein drilling has intersected 17.65 meters at 3.8 g/t gold, including a 6.4 meters at 7.8 g/t gold. "All seven Madupola holes intersect gold mineralization," the company said.

TND 076 hole, for example, intersected 17.65 meters at 3.8 g/t gold from 69.8 meters, while TND 064 intersected 11.5 meters at 1.9 g/t gold from 79 meters.

Golden Peaks says the TND 076 intersection is the widest and highest grade gold so far drilled within the Modupola vein system and the potential for further mineralisation is open at depth.

"Follow-up drilling is planned. Intersections of gold mineralisation have now been obtained over a strike length of 400 meters along the Modupola vein and mineralisation is open to the north, to the south and at depth," it said.

Currently, the company is active on four of its five Indonesian gold projects; drilling on the Tanoyan Gold Project, surface exploration programs on the Palopo Gold Project, the Kapa Kapa Gold Project and the Roko Gold Project. (bintang@theindonesiatoday.com)

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