Greystar Share Discussion Threads

[gardenboy] 31/8/2006 09:15

bionic,

Veta da Barro area looking even better.

currently, I'm out of this as funds were needed elsewhere - don't despair though as some very good stocks have quiet boards.

[wassapper] 31/8/2006 09:10

no bionic - there are others of us who hold. Just waiting for the inevitable take out at 5 times current value! I think thiis will be a 20m oz project one day.

[bionicdog] 31/8/2006 09:02

More drilling , more gold , just me here zzzzzzzzzzzz.

[bionicdog] 29/8/2006 16:01

We are still owed a bit more to catch TSE up.

[rambutan2] 14/7/2006 11:12

fags and anglogold jv in colombia...

[bionicdog] 13/7/2006 07:53

I won't stick it all up.

[flagon] 01/7/2006 20:12

Greystar up in Canada on Friday.

Current bid C$10.95. Sterling equivalent £5.30.

Hopefully, markup on Monday.





Good luck,


Flagon

[bionicdog] 30/6/2006 08:04

Back where we belong , above five quid.

[flagon] 15/6/2006 15:52

Greystar on RobTV last night.




Good luck,


Flagon

[bionicdog] 07/6/2006 08:10

Easy to miss these as you don't get an A. Won't put the whole thing up.

Greystar Resources Greystar intersecting higher-grade gold in Veta de Barro, Los Laches, El Pozo
LONDON (AFX) - Greystar Resources Ltd said additional step-out drilling in
the Veta de Barro, Los Laches and El Pozo areas is continuing to intersect
higher-grade gold structures within much broader zones of mineralization that
are so indicative of its wholly-owned, multi-million ounce Angostura gold-silver
resource in northeastern Colombia.
"These higher-grade shoots are important because they represent a very
significant component of the contained gold in the Angostura resource," states
Greystar's executive vice president, Frederick Felder.
[e-mail]
slm

[mikkydhu] 31/5/2006 08:31

112,797 metres of drilling were used in the Aug 05 resource calculation which gave us about 10m oz. What will an additional 50,000 metres give us? Maybe somewhere between an extra 3 to 5 million? And now there's even more ground to drill.

[bionicdog] 31/5/2006 08:15

Strange day to be rising , can't complain I suppose.

[bionicdog] 26/5/2006 07:56

Greystar Resources Greystar Adds to Angostura Land Package and Updates Activities
FOR: GREYSTAR RESOURCES LTD.

TSX, AIM SYMBOL: GSL

May 25, 2006

Greystar Adds to Angostura Land Package and Updates Activities

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 25, 2006) - Greystar Resources Ltd. ("Greystar")
(TSX:GSL)(AIM:GSL) is pleased to report that it has added new concessions which both complement and expand the
land position around its wholly-owned, multi-million ounce Angostura gold-silver resource in northeastern
Colombia.

Adding to the Angostura land package, Greystar has reached an agreement to acquire the Armenia Permit (6979)
and the 101-68 Mining License, as well as the surface rights that extend considerably beyond the previous
concession limits. On the exploration front, Greystar has been granted a new 3,800 hectare concession located
southwest of the town of Vetas.

"The new resource study and ongoing metallurgical studies are starting to hit full stride with the scoping
study set to follow," states the Company's Executive Vice President, Frederick Felder. "And the addition of
these properties not only solidify ground around Angostura but also open up new exploration potential for
Greystar in Colombia."

Resource Study Update

The resource evaluation, which is designed to build on the August 2005 resource estimate for the Angostura
deposit that came in at 5.83 million ounces of gold and 24.6 million ounces of silver within an indicated
resource of 148.14 million tonnes grading 1.22 grams gold per tonne and 5.17 grams silver per tonne, plus
another 4.47 million ounces of gold and 21.5 million ounces of silver within an inferred resource of 123.3
million tonnes grading 1.13 grams gold per tonne and 5.42 grams silver per tonne using a cut off of 0.4 gram
gold for oxide and 0.55 gram gold for sulphide (Press Release August 16, 2005), was advanced in the second half
of April with a two week visit from industry consultants Strathcona Mineral Services Limited and a two week
visit by a geo-statistical consultant from Lima. This more recent work and the geological interpretation, which
was first started in early February, is resulting in a significant refinement of the geological model. The
abundance of previous data and the addition of substantial new results have prompted a new approach to the
modeling work, one that involves building a resource model that will allow the updating of new information
without having to undertake a whole new study. To this end, the current model is more customized for the
Angostura deposit making future updates much more time efficient and given the continued flow of new
information, especially in the prospective north and northeast extensions of the Angostura deposit, this new
capacity for resource updates will be especially beneficial for future economic evaluations. It is now expected
that more than 50,000 metres of new drilling in over 140 drill holes will be incorporated in the new resource
study, which is in addition to the 112,797 metres of drilling information used in the August 2005 resources
study.

Metallurgical Work

Early results from the test program have indicated that the oxidized zones of the deposit appear to be very
amenable to direct cyanidation, as does some of the unoxidized (transitional and sulfide rich) material.

The most recent testing is in progress on 24 drill core composites comprising seven oxide, nine transition and
eight sulfide samples. Scoping level heap leach cyanidation and milling/cyanidation (bottle roll) tests and
detailed analyses are being conducted on each composite. Scoping level flotation testing is being conducted on
all sulfide and transition composites. Oxide composites and certain transition and sulfide composites
representing zones shown during preliminary testing to be amenable to heap leaching, are being subjected to
column percolation leach testing. This current work is being done mainly by METCON Research (Tucson, AZ), with
some work being done in parallel by CIMEX (Colombia).

While all of the preliminary tests of oxide composites were amenable to heap leaching as were some of the
transition materials, some of the sulfides were not as responsive to cyanidation. As such, alternate processing
routes are being considered.

Column leach testing is in progress at METCON on 15 oxide, transition and sulfide ore composites that were
selected based on results from bottle roll testing. Some parallel column testing is being conducted at CIMEX.
The column tests are being conducted to verify amenability of the ore to cyanidation treatment under simulated
heap leaching conditions.

Scoping level flotation testing conducted on sulfide and transition composites by METCON and CIMEX yielded
sufficiently encouraging results to warrant a detailed flotation study on three master composites. The purpose
of this study is to optimize gold and silver recovery, concentrate grade and selectivity during flotation
processing of the Angostura ore. After a competitive bid process, G & T Metallurgical Services Ltd. (Kamloops,
B.C.) was selected for this work, which is now in progress.

A scoping level evaluation of precious metal recovery from flotation concentrates has also been conducted at
METCON. Preliminary results indicate that oxidative pretreatment (roasting) of flotation concentrates
significantly improved gold recovery by cyanidation of the flotation rougher concentrate. Follow-up testing is
planned which, along with the detailed flotation testing program, will be used to determine whether
concentration by flotation will be a viable processing route for sulfide and transition ore types that do not
respond well to milling/cyanidation treatment.

Because sulfides may require different treatment, it will be necessary to develop a testing protocol that will
allow quantifying the different ore types that have differing recovery and processing characteristics. Once
established, these tests will be used on drill composites to provide the resources model with this parameter.

Scoping Study

International consulting firm, Hatch Ltd. conducted a site visit in February and is currently monitoring the
metallurgical test work. Upon completion of the resource study, now expected in late June, the Hatch scoping
work will commence in earnest.

Infrastructure

At a regional forum in Bucaramanga on May 8, the concept of a new 9 km connector road between the Angostura
Project and the town of Vetas received positive responses from both the Departmental government level and the
community governments. The road is being proposed as a multi purpose road to facilitate ecotourism as well as
mining activity. The route of the new road is such that it will traverse mostly high country from Vetas to the
Angostura site. From Vetas an improved gravel road connects to a paved highway to Berlin where it meets the
main paved highway to the regional center of Bucaramanga. Travel time between Bucaramanga and Angostura via
Vetas is expected to be reduced by about one hour and the new route will accommodate the large loads that would
be required for the development of Angostura. The proposed connector road is part of a network of new access to
the California, Surata and Vetas areas that the government agencies are considering. Ultimately access to the
Angostura Project will be provided from two different directions thus insuring transportation for labor and
materials from all nearby communities.

REVIEW BY QUALIFIED PERSON, QUALITY CONTROL AND REPORTS

The results of the Company's drilling program have been reviewed, verified (including sampling, analytical and
test data) and compiled by the Company's geological staff (which includes a qualified person, Frederick Felder,
P.Geo., for the purpose of National Instrument 43-101, and Guidance Note for Mining, Oil and gas Companies
issued by the London Stock Exchange in respect of AIM companies, which outline standards of disclosure for
mineral projects). Frederick Felder, P.Geo., has over 30 years of mineral exploration experience, is a member
in good standing with the Association of Professional Engineers and Geoscientists of British Columbia and is
the qualified person responsible for this release.

The Company has implemented a quality control program to ensure sampling and analysis of all exploration work
is conducted in accordance with the best possible practices. Under these quality assurance measures, drill core
is sawn in quarters (HQ) or halves (NQ), with one quarter or one half of the core samples shipped to ALS-Chemex
Laboratory (ISO 9002 registered) in Vancouver, B.C. for analysis. The remainder of the core is retained for
future assay verification. Gold analysis is conducted by fire assay (one assay tonne) using an atomic
absorption finish. The laboratory reassays using the ALS-Chemex protocol, and additional checks may be run on
anomalous values. Greystar has independent re-analysis and sample preparation checks run at other accredited
laboratories. The Company also introduces background blanks prepared from previously analyzed core samples from
the Angostura Project.

Forward-Looking Statement

Some statements in this report contain forward-looking information. These statements address future events and
conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly
different from those projected.

All dollar amounts are in Canadian dollars, unless otherwise stated.


-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Greystar Resources Ltd.
David B. Rovig
President
[phone]
www.greystarresources.com

[gardenboy] 11/5/2006 21:20

storming ahead in Canada !



this is from the Stockhouse board,

What can investors expect from the updated resource estimate?

A material increase is likely, as there are now 12 rigs turning on the Angostura site, drilling a mix of step out and infill holes. Some holes can be both; those that are drilled at a suitable angle intersect along their trajectory both known veins and new ones.

The current resource estimate for the Angostura deposit is 5.8 million ounces in the indicated category and 4.5 million ounces in the inferred. Given that this was based on around 112,000 metres of drilling, and that data from close to 40,000 metres of additional drilling will be incorporated in the new estimate, then an approximately proportional increase might not be unreasonable to anticipate.

This would put the updated resource at 7.8 million ounces indicated plus 5.6 million ounces inferred, an increase that would be unlikely to displease the market. In reality, a slightly less than proportional increase is likely, for no other reason than some of the drilling that has been undertaken will increase the reliability of the resource rather than its size.

Moreover though, there should be more to come, as drilling of Angostura is still ongoing and will likely be sufficient to support a further resource increase in due course. Drilling of peripheral areas may also raise the proportion of oxides in the resource, which is desirable as oxides are cheaper and easier to process than sulphides.

Usefully, Greystar is confident that the average grade of deposit will increase both with the immediately upcoming resource update and the one after that, as the nature of mineralisation at Angostura is such that denser drilling tends to identify high-grade vein intersections.

According to Rovig, the scoping study is being based on an operation producing 300,000-500,000 ounces per annum, processing roughly 40,000 tonnes of ore per day. This makes Angostura a sizable project and one that might one day attract the attention of a major, particularly if the resource keeps on getting bigger.

[gardenboy] 09/5/2006 08:02

rambutan,

very nice find, thanks

- new resource report expected in about a month Rovig said on the 10 April

[rambutan2] 09/5/2006 00:55

Greystar Resources Ltd. GSL.TO Apr 10, 2006 @ 11:25am
European Investor Metals and Mining Forum

[bionicdog] 04/5/2006 08:07

Oh for heaven's sake , is this turning into a ramping thread or can't you be bothered to read back 2 posts? (Yes , I am a joy to be with first thing in the morning)

[lasata] 04/5/2006 07:30

Greystar's Angostura Is As Good An Exploration Project As You'll Find On The AIM Market

By Jack Hammer

The latest buzz around AIM and Canadian listed Greystar Resources' Angostura gold-silver project in Columbia relates to the extent of the oxide cap towards the top of the vein system there. "We could wind up with a three to seven year oxide mine," says Greystar president David Rovig.

A new resource estimate is due out within the next few weeks, based on 40,000metres of drilling completed since the last numbers came out in August. Back then Angostura showed just over 148million tonnes of ore grading 1.22 g/t gold and 5.17 g/t silver to give 5.8 million ounces gold in the indicated category, with an additional 123 million tonnes giving an inferred resource of 4.5 million ounces of gold at similar grades. Of that only 33.4 million tonnes of the indicated resource and only 14.6 million tonnes of the inferred resource was in oxides, with the remainder in the sulphides.

Although the new numbers only add more resource ounces at the inferred and indicated level, City brokers nonetheless expect the overall resource at Angostura to go to over 13 million ounces this time round. In any event Greystar's view that the oxides could support three to seven year's mining at between 350,000 and 500,000 ounces per year looks likely to be confirmed. Angostura lies beneath a sizeable hill so, scooping the oxides straight off the hillside should make for a relatively cheap operation, building the company up a nice record of cash flow before it starts to head in towards the more metallurgically complex sulphides.

With 12 rigs currently running Angostura could yet get even bigger too. To date Greystar has spent US$43 million and drilled 154,000 metres on Angostura, equating to a finding cost of US$4 per ounce. It has yet to disappoint. The company has drilled off one edge beyond the north east of what it calls the Cristo Rey anomaly area, but there are still plenty of other prospective areas going deeper into the hill - the current focus is immediately to the south of Cristo Rey. That such extensive drilling is required on a structure like Angostura - which contains over 80 veins - is a result of the checks and balances of the modern market. There are only two approaches to such a property – drill it like a swiss cheese or not drill it at all and mine without drilling. In difference circumstances both could make sense economically, but if bank finance is required the latter approach is not a viable option. For smaller operations that don't require bank finance, like Cambridge Mineral Resources' two Colombian projects, not drilling can work.

Angostura is big, though - many of Greystar's backers in London feel that it has the potential eventually to show over 20 million ounces. So as a mark of its potential size it has to be drilled, although as of last August industry consultants Snowden were emphatic in cautioning that it remains an exploration rather than a development project. We'll know fairly soon whether or not things are going to move on. Hatch will commence a feasibility study later in the year. A scoping study is already underway, but won't be completed until the new resource numbers are available. Plenty of work remains to be done on processing too.

As it stands, however, Angostura is as good an exploration project as you'll find on the AIM market. Mr Rovig himself has long recognised that the only reason Greystar was able to lay its hands on a project of such magnitude was that Colombia carried too great a political risk for any of the majors to touch. How times change. Selling Colombia has been getting easier for some time, Mr Rovig says, as the incumbent regime makes serious inroads into sorting out the economy and the country's notorious drug cartels. It ought to get re-elected too. The irony is that as the rest of South America takes a lurch to the left and Colombia's drug problems get shunted into Ecuador and Peru, Colombia now looks like one of the most attractive destinations on the continent. With Angostura moving towards feasibility Greystar looks firmly ensconced.

[gardenboy] 03/5/2006 23:00

and now Mineweb !! - they're queuing up

Potential for cheap Colombian gold
By: Rhona O'Connell
Posted: '03-MAY-06 15:00' GMT © Mineweb 1997-2004



Greystar Resources has a multi-million ounce gold and silver resource at the Angostura property in north-eastern Colombia.

The company trades on the TSX and on AIM (ticker symbol GSL, market capitalisation £216 million or US$398 million), and recent drill results suggest that it will soon be able to announce a sizeable increase in the resource, which in August 2005 stood at 5.83 million ounces of gold indicated plus a further 4.47 million ounces of gold inferred.

These resource estimates are prepared to NI 43-101 standards and come from 112,797 metres of drilling. The 2006 drilling campaign is an aggressive one, amounting to US$12 million with twelve drills on site and the company has C$33 million (US$30 million cash in hand). The results at the end of August showed a resource as follows:

Indicated; 148.1.million tonnes @1.22 grammes/tonne gold and 5.17 g/t silver
Inferred: 123.3 million tonnes @ 1.13 g/t gold and 5.42 g/t silver, giving an indicated silver credit of 24.6 million ounces and an inferred silver credit of 21.5 million ounces. Over 30% of the gold is constrained in the higher-grade shoots.

Greystar has a 100% holding in Angostura, which lies in the mountains of the north-eastern Cordillera, approximately 300 kilometres north-north-east of capital Santa Fé de Bogotá and is served by good infrastructure and an educated workforce (literacy rates exceed 90%). The company has been in the area for ten years, but rejuvenated the operation when the gold market started to revive. The company describes Colombia as one of the most prospective in Latin America as well as being one of the most under-explored and now has a modern, favourable, Mining Act in place.

The project includes thirteen 30-year renewable concessions although these are being consolidated into just three, is 35 kilometres from Bucaramanga, which is the capital city of the department of Santander and operates off local hydroelectric power. Total land holdings amount to 6,670 hectares and believes that the project has excellent exploration potential within the confines of the unknown deposits and in the adjacent areas. The deposit is part of a very large system that is potentially suitable for a long life, supporting a low-cost bulk tonnage operation and the mining towns of Vetas and California are nearby. The terrain is steep but not severe, although the road access needs to be improved.

The deposits lie at an altitude of between 2,600 and 4,300 metres and have over 145 vein-like tabular structures in width of five to more than 50 metres, and averaging nine metres. Strike lengths extend from less than 100 metres to over 1,000 metres within an area that extends two kilometres from north to south and 1.5 km east-to-west. The latest results show that the deposit extends to the east although it does look as if the company is now finding the northern limit and some topographical constraints to the south. The latest campaign is drilling underground, splaying three to four holes per station and a sample tower was recently completed.

The latest drill returns show that step-out drilling to the east has returned 19.39 grammes of gold per tonne over five metres and 30.8 g/t of gold over 1.6 metres, while underground drilling has encountered 28.25 metres grading 7.24 grammes per tonne. The assays from 20 new holes include two holes drilled 50 metres to the east of the previous holes in the Veta de Barro area, one of which intersected seven structures, several of which penetrated higher-grade shoots within broader zones of lower-grade mineralisation. Drilling on the eastern extension of the same area has returned a number of intersections that have further expanded the wide mineralisation hit by drilling in the first part of this year, with intersections including 1.02 g/t gold over 31 metres (from 66 m to 97 m) , 2.71 g/t over 5.7 metres (from 136 m to 147 m) and 3.14 g/t over 3.45 metres (from 154.15 to 157.6 m). Yet further east, one hole intersected 2.32 g/t gold and 252.8g/t silver over 5.1 metres.

The metallurgical work is in its infancy, having started last November. Over 20 samples have been run to date with reasonably good results. The oxide zone, which occupies the top 200 metres of the project, leaches very well. An intermediate zone lies below the oxide, and a deep sulphide zone lies below that; flotation on the sulphide zone is returning 85-90% recovery and every sample has returned a positive result.

A full phase economic evaluation and scooping study is underway, along with surface trenching and geological mapping to increase the definition of the grade.

It looks as if this will be a low-cost long-life operation, operated almost entirely by local workforce and further results will be interesting.

[gardenboy] 02/5/2006 23:16

worth pasting this eldorado, I think !

Date: May 02, 2006

Greystar's Angostura Is As Good An Exploration Project As You'll Find On The AIM Market

By Jack Hammer

The latest buzz around AIM and Canadian listed Greystar Resources' Angostura gold-silver project in Columbia relates to the extent of the oxide cap towards the top of the vein system there. "We could wind up with a three to seven year oxide mine," says Greystar president David Rovig.

A new resource estimate is due out within the next few weeks, based on 40,000metres of drilling completed since the last numbers came out in August. Back then Angostura showed just over 148million tonnes of ore grading 1.22 g/t gold and 5.17 g/t silver to give 5.8 million ounces gold in the indicated category, with an additional 123 million tonnes giving an inferred resource of 4.5 million ounces of gold at similar grades. Of that only 33.4 million tonnes of the indicated resource and only 14.6 million tonnes of the inferred resource was in oxides, with the remainder in the sulphides.

Although the new numbers only add more resource ounces at the inferred and indicated level, City brokers nonetheless expect the overall resource at Angostura to go to over 13 million ounces this time round. In any event Greystar's view that the oxides could support three to seven year's mining at between 350,000 and 500,000 ounces per year looks likely to be confirmed. Angostura lies beneath a sizeable hill so, scooping the oxides straight off the hillside should make for a relatively cheap operation, building the company up a nice record of cash flow before it starts to head in towards the more metallurgically complex sulphides.

With 12 rigs currently running Angostura could yet get even bigger too. To date Greystar has spent US$43 million and drilled 154,000 metres on Angostura, equating to a finding cost of US$4 per ounce. It has yet to disappoint. The company has drilled off one edge beyond the north east of what it calls the Cristo Rey anomaly area, but there are still plenty of other prospective areas going deeper into the hill - the current focus is immediately to the south of Cristo Rey. That such extensive drilling is required on a structure like Angostura - which contains over 80 veins - is a result of the checks and balances of the modern market. There are only two approaches to such a property – drill it like a swiss cheese or not drill it at all and mine without drilling. In difference circumstances both could make sense economically, but if bank finance is required the latter approach is not a viable option. For smaller operations that don't require bank finance, like Cambridge Mineral Resources' two Colombian projects, not drilling can work.

Angostura is big, though - many of Greystar's backers in London feel that it has the potential eventually to show over 20 million ounces. So as a mark of its potential size it has to be drilled, although as of last August industry consultants Snowden were emphatic in cautioning that it remains an exploration rather than a development project. We'll know fairly soon whether or not things are going to move on. Hatch will commence a feasibility study later in the year. A scoping study is already underway, but won't be completed until the new resource numbers are available. Plenty of work remains to be done on processing too.

As it stands, however, Angostura is as good an exploration project as you'll find on the AIM market. Mr Rovig himself has long recognised that the only reason Greystar was able to lay its hands on a project of such magnitude was that Colombia carried too great a political risk for any of the majors to touch. How times change. Selling Colombia has been getting easier for some time, Mr Rovig says, as the incumbent regime makes serious inroads into sorting out the economy and the country's notorious drug cartels. It ought to get re-elected too. The irony is that as the rest of South America takes a lurch to the left and Colombia's drug problems get shunted into Ecuador and Peru, Colombia now looks like one of the most attractive destinations on the continent. With Angostura moving towards feasibility Greystar looks firmly ensconced.

[rambutan2] 02/5/2006 17:16

well, i like the title!

Greystar's Angostura Is As Good An Exploration Project As You'll Find On The AIM Market

i've always said they'd found an eldorado.

[flagon] 02/5/2006 17:10

Minesite has just written up a nice piece on Greystar today. Check it out !!





Good luck,


Flagon

[lasata] 27/4/2006 08:55

GSL: Best kept gold mining secret in the market.



LONDON (Dow Jones)--Greystar Resources Thursday reported that eastern step-out drill holes on its wholly-owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia have returned 19.39 grams gold per tonne over 5 metres and 30.8 grams gold per tonne over 1.6 metres, while underground drilling in the Silencio area has encountered 28.25 metres grading 7.24 grams gold per tonne.

"The on-going diamond drill program is continuing to define and significantly extend the eastern boundary of this very large gold-silver system," states Greystar's Executive Vice-President, Frederick Felder.

"The latest results continue to show higher-grade shoots within broader zones of lower-grade mineralization which are so indicative of the Angostura deposit."

The assays from 20 new holes include two holes drilled 50 metres east of the previous holes in the Veta de Barro area with hole VB06-02 intersecting seven structures, several of which penetrated higher-grade shoots, including 19.39 grams gold per tonne over 5 metres in Vein 551, 30.8 grams gold per tonne over 1.6 metres in Vein 523 and 8.26 grams gold per tonne over 1.1 metres in Vein 521. VB06-01, which was collared 75 metres to the south, intersected six mineralized structures including Veins 523, 524, and 522 returning 0.87 gram gold per tonne over a cumulative width of 44 metres (including dilution between veins).

Meanwhile, drilling on the eastern extension of the Veta de Barro area continues to provide positive results as hole VBE06-03 returned 1.02 grams gold per tonne over 31 metres, 2.71 grams gold per tonne over 5.7 metres and 3.14 grams gold per tonne over 3.45 metres within a broader zone averaging 0.56 gram gold per tonne over a cumulative width of 272 metres (including dilution between veins).

Moving even further east, hole QPO06-04 intersected 2.32 grams gold and 252.8 grams silver per tonne over 5.1 metres. This well mineralized structure is being tentatively correlated with the Veta de Barro system, but given its location and the high silver values it may in fact be correlatable with the Los Laches area. Additional drilling in this area should confirm the correlation.

In La Alta area, offset holes to the east of the known deposit also returned promising values with hole AL06-04 yielding 1.55 grams gold per tonne over 8 metres and further down the hole, 0.77 gram gold per tonne over 17.45 metres, plus 0.60 gram gold per tonne over 18.5 metres. Some 200 metres to the east, AL06-05 intersected 2.63 grams gold per tonne over 2 metres suggesting that La Alta structures are less well developed in this area but further to the east, hole AL06-06 intersected La Alta structures yielding 1.09 grams gold per tonne over 8.8 metres, 2.5 grams gold per tonne over 9.5 metres, 2.18 grams gold per tonne over 6 metres and 0.62 gram gold per tonne over 14 metres.

Continuing eastward, hole QPO06-03 intersected 1.78, 1.32 and 0.68 gram gold per tonne over 6.85, 14 and 7.5 metres, respectively. This hole extends La Alta structures to the east by over 325 metres.

In the Silencio area, one drill hole was drilled on the eastern limit of the structures tested to date with hole SI06-04 returning 1.13 grams gold per tonne over 24.6 metres and 1.08 grams gold per tonne over 12 metres.

The results from the underground flat drilling program were equally encouraging with hole USI06-05 collared in the Silencio area intersecting 28.25 metres running 7.24 grams gold per tonne, plus 1.28 grams gold per tonne over 19.6 metres and 1.04 grams gold per tonne over 13 metres. To the northwest in the Diamante area, hole UDM06-03 returned 1.05 grams gold per tonne over 42.8 metres within a cumulative width of 116 metres grading 0.62 gram gold per tonne.

In addition underground drilling of flat holes in the La Alta area also provided further confirmation of the sheeted vein system with hole UAL-06-03 returning 1.32 grams gold per tonne over 18 metres, 1.15 grams gold per tonne over 24.2 metres and 10.83 grams gold per tonne over 2.8 metres, while hole UAL06-05 returned 1.06, 1.07, 1.68, and 0.89 grams gold per tonne over 10.8, 7, 7.5 and 15.75 metres, respectively.

On the reconnaissance front, drilling of the northern limit of the main Cristo Rey geochemical anomaly returned more moderate grade structures with hole CR-06-02 returning up to 1.05 grams gold per tonne over 4.15 metres and 3.38 grams gold over 0.8 metre, while hole VBE06-05, which was collared 200 metres to the east intersected 0.54 gram gold per tonne over 11.35 metres, plus 3.03 grams gold per tonne over 3.2 metres.


(END) Dow Jones Newswires

[bionicdog] 27/4/2006 08:08

No reaction here as usual , let's wait for Canada to open.