Quarterly Activities and Cashflow Report
The September quarterly report has been released and can be found here.
Overview at a glance:
· Strong Cash Position 30th September 2011 ~ $13.1 Million.
· Cornerstone Investment from Craton Capital LLC - $8 Million.
Business – Gold Exploration and Discovery
Ø Twin Bonanza Gold Camp Discovery Success:
· Extensional Drilling Success at the 1.67Moz gold Buccaneer Porphyry Deposit.
· Caribbean Discovery Extended with 36 metres averaging 2.06g/t gold.
· New Discovery at Cypress Prospect with 26 metres averaging 5.53g/t gold including 7 metres averaging 20.13g/t gold.
· New Discovery at Empress Zone with 43 metres averaging 1.02g/t gold.
· Ultra-high grade drill intercepts at Old Pirate Northern Extensions including 9 metres averaging 100.9g/t gold including 2 metres averaging 413.5g/t gold.
· Bulk Trenching continues at Old Pirate with results pending.
Ø Regional Drilling Programs:
· Discovery confirmed at Kroda 3 Prospect at Barrow Creek with 29 metres averaging 6.38g/t gold.
· Drilling completed at various targets at Lake Mackay (pending assay).
Ø An additional 16,000 metres of drilling completed during the Quarter, awaiting assay, compilation and interpretation.
Published: 10th October 2011.