Deccan Gold Mines thru with drilling ops in Karnataka

Bangalore, Financial Express Our Corporate Bureau, 30 April 2004 :

Deccan Gold Mines Ltd., the private sector gold exploration company, has said that it has completed reconnaitory drilling operations in Haveri and Dharwar districts of North Karnataka.

The Dharwar Shimoga block comprises an area of about 5000 square kilometers within which Deccan Gold has identified 22 independent exploration targets base don surface geological studies and sampling.

“Preliminary drilling activities have now been completed in 4 of the 22 exploration targets. A 470 metre long and 27 metre wide mineralised zone has emerged at Ganajur near Haveri as a result of drilling. The zone has the potential to host an open pittable gold deposit with an inferred resource of about 60,000 ounces or 2 tonnes of gold,” said Dr. VN Vasudev, cheif geologist and director, Geomysore Services, part of Deccan Gold Mines. “Further detailed drilling will be undertaken using advanced techniques to determine the true dimentions and shape of the ore body and additional gold reserves that might be present at depth and in the adjacent prospects,” he added.

Other than Ganajur, the company has undertaken premilinary drilling at Mangalagatti, Bhavihal and Lakkikoppa prospects in the Dharwar Shimoga block where wide zones of mineralisation has also been encountered.

Deccan Gold Mines also commenced drilling operations at Uti in the Hutti beltt near Raichur. Thr programme is due for completion in about the middle of May 2004.