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07/01 - Cortona Resources to commence North Monger RC drilling program

Emerging Australian gold company Cortona Resources (ASX: CRC) is preparing to kick off drilling at North Monger near Kalgoorlie in Western Australia after receiving Departmental Approvals for a planned 2500m RC program.

The drilling will target both Daisy Milano style mineralisation along the east of the project area, and also the potential western extension of the Wombola Dam Resource.

The Daisy Milano mine, which is operated by Silver Lake Resources, is situated 5km south east of CortonaÔÇÖs North Monger project. Cortona interprets the main structures at Daisy Milano to trend into CortonaÔÇÖs project area, where soil sampling has defined gold anomalies at Arezzo and Lucca.

By late morning, shares in the company were trading at 15c - an increase of 3.4%.

Historic wideÔÇÉspaced shallow drilling in this area intercepted gold grades up to 6.3g/t.

Cortona has designed an RC drilling program to target the structural trend as a potential host to high grade Daisy MilanoÔÇÉstyle mineralisation.

Wombola Dam hosts an indicated and inferred resource of 557,000t @ 3.0g/t for 53,500 ounces of gold.

Three dimensional modelling of the mineralised quartz veins suggests that the lodes plunge gently to the west.

CortonaÔÇÖs most westerly line of drill holes intercepted numerous zones of mineralisation, which may reflect the lower grade upper levels of the lodes. Several lines of deeper drilling have been designed to test the model which has the potential to significantly upgrade the resource.

Managing Director Peter van der Borgh said the drilling at North Monger would be in addition to the four rigs arriving at Majors Creek over the next couple of weeks.

"The programs are a mix of resource to reserve drilling and exploration drilling that should deliver sustained news flow to compliment the Dargues Reef Feasibility Study and Planning Approvals process which are underway," Mr van der Borgh said.

ÔÇ£The plans we have been developing have placed Cortona in an enviable position for the year ahead.

Cortona's North Monger project is located 45km SE of Kalgoorlie, and 5km NW of the Daisy Milano mine, where Cortona has defined over 80,000 ounces in shallow resources.

Cortona is an energetic explorer, with aggressive exploration programs underway aimed at increasing the Indicated and Inferred Resources at Dargues Reef and North Monger to underpin a longÔÇÉterm gold mining business.

http://www.proactiveinvestors.com.au/companies/news/4105/cortona-resourc...

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