Feb 7 2011
Gammon Gold Inc. (TSX: GAM and NYSE: GRS) has provided an update of drill results from the Ocampo exploration program.
During 2010 the Company completed 137,393 metres of drilling at Ocampo with twelve drill rigs operating on surface and underground during the fourth quarter.
Polvorin
Drilling at the Polvorin target, located directly north of the mine offices, reported additional high-grade mineralization.
- Drilling highlights include: - Hole OG-1213, 0.5 metres grading 121.69 grams per tonne gold equivalent
Refugio Norte
Drilling at the Refugio Norte target zone, located southeast of the mine offices and on the north side of the Refugio open pit, reported very high-grade mineralization.
- Drilling highlights include: - Hole OG-1194, 0.8 metres grading 172.71 grams per tonne gold equivalent
Resurrecion
Drilling began on the Resurrecion vein and shear zone during the fourth quarter. The Resurrecion target is located on the east side of the town of Ocampo and projects downward into the existing North-East mine complex and has reported high-grade mineralization.
- Drilling Highlights include: - Hole OG-1155, 0.8 metres grading 26.58 grams per tonne gold equivalent
Candelaria
Drilling on the Candelaria target, located directly under the Picacho open pit, reported encouraging results.
- Drilling Highlights include: - Hole OG-1149, 0.6 metres grading 7.30 grams per tonne gold equivalent(1) Key Drilling Highlights on Existing Veins Altagracia - Drilling highlights include: - Hole OG-1150, 2.3 metres grading 5.63 grams per tonne gold equivalent(1) - Hole OG-1164, 7.1 metres grading 9.86 grams per tonne gold equivalent(1) - Hole OG-1212, 1.2 metres grading 23.75 grams per tonne gold equivalent(1) - Hole OG-1217, 1.5 metres grading 6.72 grams per tonne gold equivalent(1) Balvanera - Drilling highlights include: - Hole OG-1134, 1.3 metres grading 9.07 grams per tonne gold equivalent(1) - Hole OG-1143, 1.3 metres grading 6.37 grams per tonne gold equivalent(1) - Hole OG-1143, 0.6 metres grading 39.74 grams per tonne gold equivalent(1) - Hole OG-1195, 0.5 metres grading 19.29 grams per tonne gold equivalent(1) - Hole OG-1195, 2.6 metres grading 9.93 grams per tonne gold equivalent(1) Aventurero and LaMore - Drilling highlights include: - Hole OG-1185, 0.7 metres grading 25.24 grams per tonne gold equivalent(1) - Hole OG-1185, 0.8 metres grading 10.67 grams per tonne gold equivalent(1) - Hole OG-1197, 2.5 metres grading 11.33 grams per tonne gold equivalent(1) Belen - Drilling highlights include: - Hole OG-1245, 0.5 metres grading 3.15 grams per tonne gold equivalent(1) - Hole OG-1254, 1.0 metres grading 6.15 grams per tonne gold equivalent(1)
"We are very encouraged by the continuing positive results from our exploration program that supports the significant upside potential at Ocampo. The Company's 2010 drilling program has clearly shown that the existing veins at Ocampo are open in four lateral directions." stated Peter Drobeck, Sr. Vice President of Exploration and Business Development. He continued, "Our 2011 exploration program is well underway with five surface core rigs and six underground drill rigs working and we anticipate continuing to report positive results at Ocampo and our expanded land packages."
Altagracia Target
Work over the past year showed that the Altagracia Target area is divided into two parts, separated by a post-mineral fault zone. Lower Altagracia drilling cut numerous high-grade intercepts that now indicate a 300-meter vertical interval of mineralization that is only 250 metres from existing underground infrastructure. The results received to date supports extension of planned underground development from Belen to Altagracia, which will ultimately connect the North-East underground operations to the PGR trend, or open pit zone, two kilometers to the south.
Drilling at the Altagracia Mine target, just 270 metres further to the east, has cut numerous anomalous intercepts following up earlier ore-grade intercepts from last year, and this is now planned for in-fill drilling to calculate a resource and potentially reserves.
Balvanera Vein
The Company presently mines the Balvanera vein in the North-East underground complex, but it has not been mined above the 1720 level. Drilling completed over the past 3 months has defined strong mineralization in this vein from near-surface to the 1720 metre level, a vertical interval of 120 to 170 metres from surface. This vein can be easily accessed from existing infrastructure.
Aventurero Vein and LaMore Vein
In addition to the exciting results at the Balvanera, nearby exploration on the Aventurero vein and LaMore vein have shown equally encouraging high-grade mineralization.