Scotgold report resource upgrade at Cononish
By StockMarketWire | Wed, 21st January 2015 - 11:15
Scotgold Resources has announce a new mineral resource estimate ('MRE') for the Cononish gold project, located in Scotland.
The gold metal content of the measured and indicated resource increased by 201% with the average gold grade 9% higher.
Work has now begun to use the 3D geological model to quantitatively assess the optimal mining methodology for the Cononish deposit.
Richard Gray, Scotgold's chief executive officer, commented: "This MRE released today is truly a cornerstone for the Cononish Project and Scotgold Resources.
"In addition to the significant increase in resource ounces, this work done on the 3D modelling in particular will underpin a more robust optimisation of our mining plan. This will be of great value to the Board as we look to further optimise the project and make plans for the funding and development of Cononish."
At 11:15am: (LON:SGZ) Scotgold Resources Ltd share price was +0.28p at 0.8p
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