GMS results bode well for project

Encouraging drill results by Gold Mines of Sardinia Limited have provided a confidence boost for the company’s plans to develop a major gold project in Sardinia.

The company, which holds tenements totalling more than 3500 square kilometres of the most prospective areas for gold in Sardinia, has reported high-grade gold intersections during the June quarter.

These include gold intercepts at Su Coru (46 metres grading at 5.11 grams/tonne), S’Arruga (42m at 2.87 g/t) and Bunnari (3.5m at 25.01 g/t and 5.5m at 18.98 g/t).

GMS managing director John Morris said: “These land holdings underpin the directors’ continued confidence in the future of Sardinia as a major gold province despite the current weak international gold price.

“Our discoveries are significant, we are continuing to add new prospects to our already strong portfolio and interest in joint ventures expressed by major mining companies is being pursued.”

However, due to the weak gold market, GMS is conserving its resources and concentrating efforts in areas most likely to produce the best results.