24/06/2016 - 14:02

Burey surges on gold find

24/06/2016 - 14:02

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Shares in local explorer Burey Gold have skyrocketed on promising drilling results at its Giro project in Africa, with today’s gains on top of a big jump before the results were announced.

Gold nuggets recovered from Burey's Giro project in the Democratic Republic of Congo.

Shares in local explorer Burey Gold have skyrocketed on promising drilling results at its Giro project in Africa, with today’s gains on top of a big jump before the results were announced.

Burey revealed today the results from an RC drilling program at the Giro gold project in the Democratic Republic of Congo, with the most promising showing grades of 2 metres at 196 grams per tonne gold from 12m and 15m at 255.6g/t gold from 15m reported from black quartz veins in DMRC003.

“These are exceptional results from this initial shallow drilling program at our newest target at Douze Match, the results from hole DMRC003 are better than anything I have seen in my Moto-Kibali experience,” Burey chairman Klaus Eckhof said.

“Finding such high grade this early on the Douze Match anomaly suggests we have discovered a potential company-making prospect where we will now focus on testing along strike and to depth.”

Those comments were supported by Hartleys, which in a research announcement, said the results confirmed its opinion that the Giro project had the potential to define Burey.

Burey shares were 52.7 per cent higher to 5.5 cents each just prior to the close of trade.

The share spike today also followed a rally in the company’s stock earlier this week, with Burey’s shares surging from 2.8 cents each on Monday to an intraday high of 3.7 cents on Tuesday, shortly before it entered a trading halt.

The high volume of trading was flagged by the ASX, which issued the gold hopeful a query.

In the query, Burey said it was still in the process of analysing the drill results which were later released today.

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