HomeGoldGold One pleased with exploration results

Gold One pleased with exploration results

Portal at Gold One’s
flagship Modder East
gold mine
 
Johannesburg, South Africa — MININGREVIEW.COM — 12 November 2010 – Gold One International Limited – an Australian and South African gold resource company listed on the ASX and JSE – has announced that the results of the drilling programme at its flagship Modder East mine have confirmed an extension to the high grade shoreline.

A company statement issued here said that the confirmation followed from positive assay values received from the remaining two surface exploration boreholes drilled during the 2010 exploration drilling campaign in the north eastern portion of the Black Reef ore body. The two boreholes had intersected high grade shoreline, equating to 127.2g/t and 20.9g/t respectively over a 1m mining width.

It added that the first of the three surface boreholes drilled successfully had intersected two deflections which had revealed grades of 10.7g/t and 8.3 g/t respectively over a 1m mining thickness.

Gold One revealed that the drilling results of the three boreholes had been considered in an updated resource estimate for Modder East, which had been completed and was currently under review by an independent party. The results of this estimate would be published during the course of the current quarter.

Gold One president and CEO Neal Froneman commented: “I am delighted with the results of the first phase of Modder East’s exploration programme. This drilling has confirmed the continuous nature of our ore body and indicated that the high grade shoreline we are currently mining extends to the north-eastern areas of our mine.”

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