Hillgrove?s gold discovery continues to yield exciting results
Thursday, August 23 2012 - 06:53 AM WIB
By Harry Roy Gunawan
ASX-listed firm Hillgrove Resources Limited reported the new discovery of gold at Karipi prospect in Sumba Island yielded exciting results.
?Early stage exploration hits confirm the widespread presence of gold mineralization delineated by 1 1.5 kilometer straight length gold corridor,? the company said in the statement to the ASX, adding that the drilling has tested for shallow gold mineralization amenable for open pit mining.
?Exploration is in early stage, with much of upside potential yet to be investigated.?
Hillgrove is an 80 percent shareholder in PT Fathi Resources, which holds the IUP on the island of Sumba.
Editing by Adianto P. Simamora