Companies: EMED   

EMED Mining says latest drilling suggests that gold mineralisation at its Biely Vrch prospect in Slovakia could be ‘at least doubled’.

Two drill holes, DVE11 and DVE12, at Biely Vrch (within AIM-quoted EMED’s Detva Licence) have intercepted gold at low grades 130 metres south of the previously reported mineralised zone. That was estimated to hold between 15 and 23 million tonnes of ore containing 700,000 oz of gold at an average grade of one gramme per tonne.

Now, EMED’s managing director Harry Anagnostaras-Adams argues that ‘these first two holes in our current drilling programme suggest that the size of the previously reported zone pf mineralisation will be at least doubled with further drilling’. The company points out that Biely Vrch is a ‘classic porphyry gold system’, which typically occur in clusters and are usually large and low-grade.

EMED shares, recommended by Growth Company Investor at 9.25p last October, have now reached 17.25p, up 1.75p this morning. They could still outperform several sector peers.

EMED Mining Public Ld	AIM	£20.35m	8.50p	0.25p
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Other company articles:
EMED in £50m Spanish deal			02/10/2008
New funding for EMED			14/09/2007
Slovak cheer for EMED			21/08/2007
EMED funds expansion			11/05/2007
More losses for EMED			19/02/2007