CTO 10.0% 0.5¢ citigold corporation limited

CTO - Nice results and cheap Production

  1. 952 Posts.
    CTO announced yesterday that they have struck a high gold mineralisation zone at the Great Britain area.

    Not all assays are at hand yet but will be forthcoming soon. The following is the announcement from yesterday.

    For further info on cto you can check out www.ctgold.com.au

    cheers chooch...


    CHARTERS TOWERS GOLD MINES LIMITED 2002-04-26 ASX-SIGNAL-G

    HOMEX - Sydney

    +++++++++++++++++++++++++
    The first drilling by Charters Towers Gold Mines Limited outside of
    the central Charters Towers goldfield area has intersected high grade
    gold mineralisation.

    A 1,000 metre reverse circulation drilling program seeking high grade
    extensions to the Great Britain (160,000 oz resources) and Blue Peter
    (20,000 oz past production) gold deposits intersected high grade gold
    at Great Britain. This lies 230m east of the nearest >10 g/t gold
    intersections.

    The mineralisation is open down plunge on CTGM's EPM 8563, 50m to the
    northeast.
    HOLE
    HOLE NO LODE EASTING NORTHING TYPE DIRECTION DIP
    mE mN DEGREES
    (amg) (amg) (amg) DEGREES

    Great rev
    CT 650 Britain 419787 77814800 circ 225 -65
    CT 650
    CT 650
    CT 650
    CT 650
    FROM TO INTERVAL FIRE ASSAY
    M M M G/T AU

    CT 650 61 62 1 4.6
    CT 650 119 122 3 6.1
    CT 650 INCLUDING 120 121 1 10.5
    CT 650 143 147 4 4.3
    CT 650 INCLUDING 143 144 1 12.6

    At Blue Peter, CTGM drill intersections confirmed a shallow SE dip to
    the 1.5 km long lode structures. Infill drilling will be required to
    delineate ore shoots. Assay results are not yet to hand for several
    of the holes.

    Charters Towers Gold holds about 300 square kilometres of exploration
    ground under an option agreement exercisable up until April 2003.

    For further information on Charters Towers Gold Mines -

    web site: www.ctgold.com.au
    or
    Mark Lynch,
    MANAGING DIRECTOR
    ph +61 7 3842 3108
    fax +61 7 3842 3128
    email [email protected]

    Significant gold assays listed above are from 1m riffle split samples
    of the metamorphic hosted mineralisation on EPM 100818. The
    intersections are at close to right angles to the interpreted
    structures. Blue Peter lies on EPM 11317.

    The following statements apply in respect of the information in this
    report that relates to Exploration Results and Mineral Resources:

    * The information is based on, and accurately reflects, information
    compiled by Mr Robert James Morrison, who is a Corporate Member of
    the Australasian Institute of Mining and Metallurgy and the
    Australian Institute of Geoscientists.

    * Robert James Morrison is employed by Charters Towers Gold Mines
    Ltd.

    * Robert James Morrison has relevant experience in relation to the
    mineralisation being reported on to qualify as a Competent Person as
    defined in the Joint Ore Reserves Committee (JORC) Australasian Code
    for Reporting of Identified Mineral Resources and Ore Reserves.

    Mr Morrison has consented in writing to the inclusion in this report
    of the matters based on the information in the form and context in
    which it appears.



 
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