Croesus hits right zone

Croesus Mining NL has intersected a new high-grade gold mineralisation zone at its Fort William deposit at Binduli, where spectacular hits have been made at quite shallow depths of less than 80 metres.

Croesus managing director Michael Ivey said the new mineralisation is a “higher grade and different geometry” to that previously seen at Fort William and has some of the characteristics of the eastern contact mineralisation mined last year at the Centurion pit five kilometres away.

During the past fortnight, best results of the RC drilling include 25 metres grading at 12.87 grams/tonne, 27m at 5.5 g/t, 11m at 3.89 g/t, 5m at 2.12 g/t and 9m at 7.86 g/t, all gold.

Diamond and further RC drilling will commence this week (22 to 26 November) to determine the extent of the new zone.