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17/03 - Visible gold highlights 'potential bonanza zone'

17 Mar, 2010 11:59 AM

Recent drilling at Dragues Reef Project has found coarse visible gold highlighting a potential bonanza zone however assay results are still pending.

Further significant drilling intersections include: 12m @ 16.4g/t gold (incl. 3.5m @ 44.0g/t), 5m @ 15.6g/t gold (with 3m @ 0.27% Cu), 3.5m @ 12.7g/t gold (with 0.3% Cu), 11m @ 4.3g/t gold.

Cortona Resources Limited (ASX: CRC) reported on Monday that latest resource drilling has returned significant high-grade gold intersections both within and outside of the current 286,000oz resource at its 100%-owned Dargues Reef Gold Project.

The latest Reverse Circulation (RC) and diamond drilling included diamond hole 221, which intersected 12m @ 16.4g/t Au (including 3.5m @ 44g/t Au), indicating the potential to increase the current resource of 1.44Mt @ 6.2g/t Au for 286,000oz.

The three reported diamond holes have intersected multiple mineralised lodes both within and outside of the current stope designs with the potential to further expand the mineable resource (see Figure 1).

A further recent diamond hole (#226) has intersected coarse visible gold associated with narrow quartz veining on the margin of a sulfide lode (see Figure 2). The results for this hole and several others are pending.

"These are great results which continue to reinforce the thickness, continuity and grade of the gold mineralisation at Dargues," said Cortona's Managing Director, Mr Peter van der Borgh. "The presence of coarse gold associated with quartz veining is very significant suggesting that we may have discovered a bonanza lode within the Dargues mineralised system," Mr van der Borgh said.

"This is similar in the style of mineralisation exploited by the old timers in the district where records show that these quartz rich lodes graded up to 10 ounces per tonne".

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