Coventry Resources Limited (ASX:CVY) Drilling Program Commences at Rainy River Gold Project
Perth, Feb 9, 2012 AEST (ABN Newswire) - Coventry Resources Limited (
ASX:CVY) is pleased to advise that it has commenced an inaugural drilling program at its Rainy River Gold Project in northwestern Ontario, Canada.
The Project comprises 120.9 km2 of mineral rights adjacent to the rapidly expanding 6.7Moz Rainy River Gold Deposit. This makes the Company the second-largest landholder in the Rainy River Greenstone Belt which is recognised as Canada's newest gold district.
Away from the Rainy River Deposit, only very limited exploration has been undertaken previously in this highly prospective Archaean-aged greenstone belt.
Despite this limited work, numerous high priority gold targets have been delineated within the Company's Project area.
The Company has commenced a reverse circulation (RC) drilling program to explore for gold in the glacial till cover within the Company's Project area.
Drilling will target known gold anomalies, such as Martin, Stafford, Neilson and Stock.
First-pass, reconnaissance type samples will also be collected at the Company's Blue Property, where stratigraphy akin to that hosting the Rainy River Gold Deposit is present. No exploration has been undertaken here previously.
The Company anticipates generating geochemical anomalies from this drilling program together with its concurrent ongoing backhoe till sampling program, in advance of bedrock drilling. The first pass drilling program is expected to be completed in 6-8 weeks, with analytical results returned in a similar timeframe thereafter.
Diamond drilling at the Company's 1.4Moz Cameron Gold Project, 100km away, is continuing, in conjunction with a pre-feasibility study into the development of this Deposit.
For the complete Coventry Resources announcement including figures, please view: http://media.abnnewswire.net/media/en/docs/ASX-CVY-577511.pdf
Contact
Mike Haynes
Executive Chairman
Coventry Resources Limited
E-mail: info@coventryres.com
Tel: +61-8-9324-1266
| ||
|
