Deccan Gold finds deposits in Haveri

Bangalore , Hindu Businessline, 2 May 2004 :

DECCAN Gold Mines has struck another gold bearing deposit in Haveri zone, barely weeks after its success at the Dharwar Shimoga belt.

The 470 x 27 metre zone at Ganajur near Haveri can potentially yield two tonnes of gold, the company MD, Mr Sandeep Lakhwara, and the Chief Geologist, Dr V.N. Vasudev, announced at a news conference.

According to Mr Lakhwara, this is the outcome of reconnoitory drilling taken up in Haveri and Dharwad districts. “Deccan Gold’s objective this year is to be the first private sector listed company to deliver a gold deposit from within its many potential targets.”

Within the Dharwar Shimoga block of 5,000 sq m, the company has identified 22 targets and has completed drilling in four. The drilling began in the last week of March this year and “the results have been extremely positive”, they said.

Drilling is also on at Uti in the Hutti belt in Raichur and will be completed in mid-May.