A group headed by Australia’s Normandy Mining (NDY-T) has made a promising gold discovery at Perama Hill, 15 km northwest of Alexandroupolis in northeastern Greece.
The discovery was made by Thracean Gold Mining, a partnership owned 33.3% by Greece’s Silver and Baryte Ores Mining, 26.7% by Normandy, 22.2% by Inmet Mining (IMN-T) and 17.8% by France’s Bureau de Recherches Gologiques and Minires (BRGM). Normandy and BRGM hold their interests through an associated company named LaSource, which serves as project operator.
A total of 5,265 metres was drilled in 54 diamond-drill and
reverse-circulation holes on a widely spaced grid, defining a zone of continuous gold mineralization over an area 700 metres long and 100 to 300 metres wide. Holes drilled in the centre of the zone are described as being mineralized over almost their entire length, with the deepest hole reaching 262 metres depth. Oxide mineralization extends to depths of up to 80 metres and diminishes towards the lateral limits. Oxide intercepts include 48 metres of 11.2 grams gold, 31 metres of 11.6 grams gold and 38 metres of 7.5 grams gold; these three intercepts begin at surface.
Infill drilling is ongoing on a 50-metre by 50-metre grid, with an aim towards establishing a resource estimate by mid-year. Metallurgical testwork on the oxide mineralization indicates recoveries of more than 90% by conventional methods.
The partners say that the grassroots exploration of neighboring targets — including Perama Hill South, Perama South and Dasaki — has provided further encouragement.
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