Gold

Teranga Gold Corporation (TSX:TGZ,ASX:TGZ) announced an update to exploration and licensing activities in Q3 2011.

Teranga Gold Corporation (TSX:TGZ,ASX:TGZ) announced an update to exploration and licensing activities in Q3 2011.

As quoted in the press release:

Exploration at the Sabodala Pit confirms the potential for higher grades in an expanded pit to depth and to the north – drilling intersected significant widths of high grade mineralization, including hole SBDH141D of 131 metres at 3.45 grams of gold per tonne (“gpt”) and SBDH143D of 87 metres at 3.11 gpt included in four mineralized zones, on the Main Flat Extension just outside the current pit design – the new high grade zones remain open down plunge and to the northwest. These grades are twice the current average reserve grade of 1.5gpt at Sabodala.

Teranga’s Chairman and CEO, Alan R. Hill said:

“We are very encouraged by both the high grades and significant widths of mineralization seen in our recent drill results on the Mine License. These results make us very confident that we will be able to double our reserves on the Mine License in 2012.”

Click here for the Teranga Gold Corporation (TSX:TGZ) press release.

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