[Blockierte Grafik: http://www.amex.com/images/masttop2a.gif]
Precious metals and copper intersected at IAMGOLD's Quimsacocha..
2004/03/08 14:31:55
property, Ecuador (2 of 2)
"Iron Quadrangle" district in Minas Gerais State, southeastern Brazil, 50/50 joint venture partner AngloGold Brazil is financing a 6,000 metre diamond drill program. The Gandarela project covers an area dominated by a laterally extensive quartz-pebble conglomerate horizon similar to that of the prolific gold producing Witwatersrand basin in South Africa. Drilling, which commenced in the third quarter of 2003, on what was previously referred to as the Moeda project, is designed to intersect the conglomerates at depths down to 1000 metres to test paleochannels believed to have the best potential to host elevated gold mineralization. Three drills are now on the property with drilling expected to be completed in the second quarter of 2004.
- At the 7,500 square kilometer Los Menucos project located in Rio Negro province, southern Argentina, joint venture partner Barrick is expected to fund up to US$12.5 million in exploration over an eight year period to earn a 70% interest in the properties. As part of its expenditure commitment in 2004, Barrick is expected to commence drilling on the property before the end of the year.
- IAMGOLD entered into an agreement with Rubicon Minerals Corporation (TSX:RMX) to explore the latter's Avalon project in eastern Newfoundland, Canada in February 2004.
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