LONDON (ShareCast) - (ShareCast News) - Georgian Mining Corporation reported on Thursday that continued drilling at the Kvemo Bolnisi Project in Georgia has intercepted additional significant near-surface copper and gold sulphide mineralisation.
The AIM-traded firm said the significant new drill intercepts included KED004 27.0m a 2.57% Cu and 0.23g/t Au from 107m, KED003 19.5m at 0.85% Cu and 0.18g/t Au from 46.5m, and KED006 18.8m at 1.5% Cu from 47.0m

Nine out of ten drill holes in the current programme have intersected significant zones of mineralisation which are open in several directions, the board reported.

It added that the current drill programme has tested a 100m x 150m footprint to over 150m depth intended to verify high grade copper assay results from the local partner's 2008 drill programme.

"The high grades returned from our drill programme suggest that a significant resource exists at KB," said managing director Greg Kuenzel.

"This copper-gold mineralisation is adjacent to and extends beneath the oxide gold mineralisation previously identified."

Kuenzel said the company recently made the decision to postpone its initial small-scale gold production at the target to focus on the significantly larger and more robust, combined copper-gold mineralisation.

"Having confirmed that excess capacity exists at our local partner's plant, we are now looking to determine the exact requirements at the nearby operating flotation plant for copper-gold sulphide ore, and heap leach plant for gold oxides, to allow us to plan initial tonnage targets for supplying ore to the plants."

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