Australian firm
finds gold in Kratie
Australian gold and base metals explorer Southern
Gold Ltd announced the results of preliminary drillings in Kratie province, the
firm’s first foray into Cambodia.
In tests conducted in Snoul district, Southern Gold obtained readings of 3.45
grams of gold per tonne for one meter at a depth of 74 meters, according to a
company statement. Southern Gold managing director Stephen Biggins said the
test results were encouraging. “Southern Gold believes that the prospect for
gold deposits in northeast Cambodia
is substantial and that is why the company is funding such large exploration
projects.
“We expect to see more exciting results in coming
months,” he said. In 2006, Southern Gold reached an agreement with the
Cambodian government covering 959 square kilometers in Kratie and Mondulkiri
provinces, where the firm has the rights to eight concessions. In the coming
year, it also plans to conduct an airborne geophysical survey of the eastern
provinces, the first such survey to be conducted in Cambodia. Since it signed the
contracts, the price of gold has soared, hitting a record high of $1,032.70 an
ounce at the London Bullion Market on March 17. (Sebastian Strangio)
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