Discovery Gold selects exploration targets at Edum Banso, Ghana

11 September 2012 (Last Updated September 11th, 2012 18:30)

US-based mineral exploration company Discovery Gold has selected two priority targets for further exploration programmes from among six previously identified targets at the Edum Banso Gold Project in Ghana.

Gold from drilling

US-based mineral exploration company Discovery Gold has selected two priority targets for further exploration programmes from six previously identified targets at the Edum Banso Gold Project in Ghana.

The targets were selected based on recent management analysis as well as previously available historic exploration data from the Edum Banso gold zone anomalies, which cover an area about 8km long and 400m wide.

Discovery Gold president Steve Flechner said that the gold project at Edum Banso, within the significant Ashanti Gold Belt, is situated near several recent discoveries and active gold mines, such as the Golden Star Resources operated Adoikrom and Father Brown open pit deposits.

"These high-priority gold targets were outlined by previous exploration work conducted by global mining giant Newmont and Xtra-Gold Resources several years ago when gold prices ranged as low as $400/oz," Flechner added.

"Now at today's current pricing of about $1,700/oz., the potential economics of gold mining in this area have grown dramatically in our favour. I look forward to working along with the rest of the company's expanded team of experts to advance the Edum Banso Gold Project to its full potential."

Discovery Gold senior geological consultant and director Ralph Shearing said, "Our job in the field over the near term is to relocate, extend, map, analyse, and augment the historic geophysical interpretations, soil and stream sampling, trenching and pitting, and shallow auger drilling that has already been completed at Edum Banso in order to identify the possible sources of the gold anomalies and then to determine specific targets for a diamond drilling program."

According to the company, the specific drilling targets will be finalised after the completion of the pre-drilling work in 60 days and laboratory testing and analysis in another 30 days.


Image: Discovery Gold will soon begin drilling at Edum Banso Gold Project, Ghana. Photo: Aramgutang.