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Heritage Gold encouraged by Waihi drilling results
22 January 2004 - Gold exploration drilling results in the Waihi area of Coromandel in the past six months by Heritage Gold NZ Ltd have been “most encouraging,” the company says in its half yearly report to 30 September, 2003.
An extensive underground sampling programme to establish a resource base is planned for the main Karangahake mines, which historically produced 1 million ounces of gold and 3 million ounces of silver prior to 1993 (most of this production occurred prior to 1953).
An 8-hole reverse circulation (RC) drilling programme was undertaken at Rahu on the northern strike extension of the main Karangahake gold deposits.
The RC holes targeted coincident geochemical, resistivity and ground magnetic anomalies at three locations within the 1.7 km long anomalous zone. Hole depths ranged from 14.0 to 45.8m and all holes were drilled at an angle of 60 degrees to the horizontal.
