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Additional information
Additional Information
Market: ASX
Sector: Gold Mining
Epic: ASX:CRC
News: Latest news
Web Site: Cortona Resources
Other Articles: 18-05-201013-04-201024-03-2010

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Saturday September 04, 06:00Serving up support at Babcock

Support services have been among the worst performing sectors over the past month as revenue fears from the government’s austerity measures weigh heavily on the sector.

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Friday September 03, 11:40 Goldcorp snatches Andean Resources in $3.6bn deal, trumping Eldorado`s earlier bid

Both companies are vying for Andean`s Cerro Negro gold project, which is an advanced-stage, high-grade vein system, comprising 215 square kilometers. It currently has indicated resources of 2.54 million ounces of gold and 23.56 million ounces of silver, while inferred resources total 523,000 ounces of gold and 3.12 million ounces of silver.

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Wednesday September 01, 10:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Cortona Resources

Cortona Resources

Cortona Resources is a junior gold explorer with a small market capitalisation who maintain exposure to growing gold resources that present significant exploration upside.

Tuesday, February 16, 2010

Cortona Resources intersects high-grade gold at Dargues Reef Project

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Emerging Australian gold company Cortona Resources (ASX: CRC) has completed the first two drill holes at its 100%-owned Dargues Reef Project, intersecting significant widths of high-grade gold mineralisation immediately adjacent to the current mineable resource.

During the morning trade, shares in Cortona rose 3.7% to 14c.

The Reverse Circulation holes represent the first phase of a major near-mine drilling program at Dargues designed to convert resource ounces to reserve and increase the existing JORC resource of 1.44Mt @ 6.2g/t Au for 286,000oz.

Significant drilling intersections from the first two holes at Dargues Reef in 2010 include 12m @ 6.3g/t gold from 73m with 8m @ 0.43% Cu and 13m @ 4.8g/t gold from 75m with 7m @ 0.15% Cu.

The drilling program continues as planned. Four rigs are active on site,and results are pending for a further seven completed RC holes and several diamond holes. Visible gold, which is rarely seen at Dargues, was observed in diamond core in one intercept.

Other key aspects of the Dargues Reef Feasibility Study such as water, power, metallurgy and flora/fauna are also proceeding well.

Cortona Managing Director Peter van der Borgh said the company had been advised that the NSW Director General’s Office has confirmed that the Dargues Reef development has qualified as a Major Project for State Planning Approvals under Section 3A of the Environmental Planning and Assessment Act, 1979.

The Company is focused on the exploration and development its 100%- owned Majors Creek Project, located 60km east of Canberra in New South Wales, where it is currently undertaking a Definitive Feasibility Study on the Dargues Reef Gold deposit (1.44Mt @ 6.2g/t gold for 286,000oz).

Majors Creek was the largest historic alluvial goldfield in NSW producing more than 1.25 million ounces.

The Dargues Reef deposit is expected to be the Company’s first operating mine following positive scoping study results indicating average annual production of 45,000 ounces over an initial mine life of 5 years.

Cortona’s multi-pronged plan is to progress the Dargues Reef DFS in conjunction with aggressive nearmine and regional exploration programs to underpin a long-term gold business.

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