CGA Mining increases gold exploration exposure in the Philippines
September 21st, 2011
Filed under: Operator - CGA Mining Limited
CGA Mining (ASX: CGX, TSX: CGA) has agreed to acquire 100% of the interests of Bloomsbury Holdings Limited in the companies owning a direct and indirect interest in the highly prospective Pajo MPSA.
Pajo MPSA is positioned immediately to the north of the Colorado Pit, which is part of CGA’s gold producing Masbate Gold Project in the Philippines.
Exploration activities at Pajo MPSA have already commenced with the first hole returning 85 metres at 0.85g/t gold, including 14 metres at 1.26g/t gold from the surface.
The company said the entire hole was mineralised and was drilled to intersect the central - northern end of the mineralised zone from the eastern side of the hill.
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