NEWS ROUNDUP — IGR options Ghanaian gold concessions

Toronto-listed International Gold Resources intends to buy two additional concessions in Ghana.

The Mpatasie property comprises 31 sq. miles and is contiguous with the recent gold discovery made by Kiwi Mining and Associated Gold Fields. The second concession, known as North Bibiani, covers 37 sq. miles and is contiguous and on-strike with the main Bibiani deposit. This property includes the old North Bibiani mine which produced 50,000 oz. earlier in this century. Drilling was to have resumed in mid-May.

Meanwhile, at its Humbug gold project in Idaho, the company has drilled 49 holes totaling 30,950 ft. A prefeasibility study indicates that, with a gold price of US$400 per oz., the deposit contains more than 9.8 million tons averaging 0.04 oz. gold per ton. At US$375 per oz., it contains 7.58 million tons averaging 0.043 oz.