Drilling has begun on Caribgold Resources’ (TSE) Descanso-Melonera gold project near the city of Santa Clara in west-central Cuba.
Previous work by Cuban geologists outlined a high-grade gold vein system along a 100-metre strike length. At Melonera, 5 km to the east, a similar system was recognized.
Meanwhile, sampling and assaying are continuing on the company’s other concessions.
In other news, Caribgold has been issued receipts for its final prospectus dated March 29, 1994. The prospectus concerns the distribution of common shares associated with the exercise of previously issued special warrants. The special warrant financing raised $8 million for the company.
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