Mining firm Tri-Star Resources has reported encouraging results from its recently completed Gynk Project in Turkey.
The exploration and drill programme verified the existence of a mineralised zone to the south-west of the old mine workings and also discovered a new extension to the north-west.
Drill hole 59 intersected significant mineralisation almost 60 metres away from the old workings and the drill programme was therefore further extended to drill an additional eight holes (60 to 67). These holes were completed in early January 2012 and the cores logged and samples sent for analysis. Mineralisation was visible in almost all of these additional holes.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
A new area was discovered with the last hole planned to be drilled, resulting in the programme being extended over the Christmas period into the New Year. The hole showed significant mineralisation including an intercept of 7.10% antimony over 4.70m in one hole.
The mineralisation associated with the regional east-west trending fault provides a shallow target zone of significant strike extent. The company plans to investigate this extension with a drilling programme later this year.
The share price rose 1.92% to 0.80p by 12:49.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
