Wednesday, September 29, 2010

Article On century

Century Mining Drills High Grade Gold At Bedard Dyke, Lamaque Gold Mine In Quebec

company news image

Canadian junior gold producer Century Mining (TSX-V:CMM) has reported high grade results from the first seven diamond drill holes at its first underground drill station in the Bedard Dyke at the Lamaque Gold Mine in Val D'Or, Quebec.

Significant results include hole 10-2760-1, which returned 1.34m gradng 67.5g/t Au (uncut), 31.10g/t Au (cut to 1oz/t), hole 10-2760-4, which intersected 2.41m grading 27.66g/t Au (uncut), 25.36g/t Au (cut) and hole 10-2760-3, which returned 1.62m grading 25.57 g/t Au (uncut), 20.74 g/t Au.

"The Bedard Dyke drilling continues to delineate high grade mineralization not currently within the company's existing proven and probable reserves or measured and indicated resources at Lamaque, which exceed 2.4 million ounces of gold," said interim CEO Keith Hulley.

This first drill station was designed to test the extent of both the Bedard Dyke contacts and the internal structure of the mineralization in areas where no previous drilling was done, the company said.

These results, along with continued drilling campaigns in the Bedard Dyke, will be used to complete a new 3D wire-frame model to assist in mine planning and resource estimation.

Century Mining is planning to complete a mineral resource estimate in 2011, compiled from current and future drilling at the Bedard Dyke zone.

All potential resources derived from the zone will be added to the current mineral resources already published for the Lamaque complex.

The company expects to soon be producing tonnes from the Bedard Dyke zone, which it considers a key component of its development plan for the Lamaque mine.

Century Mining holds land positions in Canada, the United States and Peru.

2 comments:

Wingfong said...

It is pleasing to note that more and more sites carry our news and events and tagging us with their ratings. I like what I read

real_economics said...

With CMM, it appears many retail investors unlike us permalongs act in reaction to news and events and give almost no weighting to anticipated upcoming events.

Based on experience with other similar situations and market psychology, I could envision a scenario in which the day we release our updated resource estimate in 2011 a huge one day spike revaluation.

I'm very confident those who have been there for the whole ride will be well rewarded.

RE