Depth Extensions Yield High Grade Intercepts - Kuusamo Gold Project, Finland
11 May 2011
Dragon Mining is pleased to announce the receipt of the first results from the second phase of drilling of the Juomasuo gold deposit at the Kuusamo Gold Project in north eastern Finland. Analysis of the initial three holes from this campaign returned a number of very encouraging high grade intercepts, including the exceptional intercept of 34.90m @ 9.30 g/t gold.
The results confirm the continuity of the sub-parallel lodes in the southern portion of the Juomasuo deposit, whilst depth extensions returned intercepts of 2.40m @ 8.20 g/t gold and 3.55m @ 10.39 g/t gold, 150 metres and 50 metres below the base of the resource model, respectively.
Multi-element analysis has also continued to highlight the presence of elevated cobalt and rare earth elements, analysis returning a strong cobalt rich zone of 21.25m @ 0.39% cobalt from 208.20 metres in drill hole KS/JS-114 and 8.95m @ 1,703 ppm total rare earth oxides from 234.25 metres in the same hole.
The Company is sourcing a third rig to commence drilling on the Hangaslampi gold deposit. This deposit is located 1,000 metres south of Juomasuo and represents a moderately dipping, medium to high grade zone of gold mineralisation that is defined over a strike length of 270 metres to a vertical extent of 90 metres from surface. A total of 105 holes were historically drilled into this deposit, returning a number of very encouraging intercepts including 23.50m @ 13.25 g/t gold, 26.95m @ 5.78 g/t gold, 19.20m @ 7.00 g/t gold, 21.05m @ 13.70 g/t gold and 13.00m @ 20.41 g/t gold.
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