News

Peninsular raises Raub resource estimates

15 May 2006 13:20:00

Malaysian explorer Peninsular Gold has reported "highly encouraging" results from the reverse circulation (RC) drilling programme currently underway at its Raub gold project.

The inferred resource estimate has increased by 81% following a revised resource estimate of 2.25 million tonnes at 1.5 g/t gold containing 107,000 ounces gold.

The company also announced that detailed RC drilling has now started at Tersang, where some 500,000 ounces of gold exists in the inferred category.

The objective is to prove up the existing inferred resources and also to identify additional ounces, it said. Several major anomalies located near Tersang will also be followed up, commencing in June.

Chairman and chief executive Andrew Kam said, "This increase in the shallow oxidised resource base bodes well for the continuing drilling programme and we look forward to appraising the market of additional results as we progress."

"25% of our assay results at Raub are not yet included in the current resource and we aim to update our estimate during June."

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