Moto Gold Mines Limited Now On Radar of Every Major Gold Producer Because Of Exceptional Drilling Results Says CEO Klaus Eckhof
Moto Gold Mines (ASX:MTO), based in Perth, Australia believes it is now on the radar of every major gold producer in the world following further exceptional results in the Democratic Republic of Congo.
The extensive exploration programme in the north east of the central African country has produced results with the potential to add another two to three million ounces to its existing resource base.
“These results are different because it is in a new area of the overall ore body which has never been drilled before and it proves to everyone around the planet what a world class resource we have,” said Klaus Eckhof, Moto Goldmines Limited Managing Director.
Down-plunge drilling on the Karagba Prospect has intercepted significant gold mineralisation at depth, including 5.19 grams at 118 metres and 5.85 grams per tonne gold at 20 metres.
“The drilling to date highlights the size of this ore body and even surpasses our own expectations, with a strike length of more than 200 metres, a thickness greater than 100 metres and a potential down plunge length of more than 450 metres,” Mr Eckhof said.
The deposit is unique, accessible and valuable because it is an easy to mine flat-lying ore body with minimum overburden.
“The economics are looking really good and every time we drill a new area we are getting great numbers and this is just adding value to the company,” he said.
Moto is also drilling at Kombokolo, where a first pass reconnaissance programme has returned significant intercepts from all 11 shallow holes drilled, including 6.19 grams per tonne of gold at 10 metres.
“These new drilling results will help to upgrade our resource base which will be announced in the next ten days to in excess of 8 million ounces by August/ September 2005,” Mr Eckhof said.
For Further information: Klaus Eckhof 041-1148 209, Thomas Murrell, 8M Media & Communications 0417 - 984 996
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