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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	8/16/2006 9:50:48 AM
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More great QEE drill results: Queenstake Drilling Extends High-Grade Gold Mineralization at Mahala Deposit 2006-08-16 09:00 ET - News Release DENVER, Aug. 16 /PRNewswire-FirstCall/ -- Queenstake Resources Ltd. has intercepted high-grade gold mineralization in underground exploration drilling along extensions of mineralized trends at the Mahala deposit (Smith Mine). Results included intercepts 40 feet grading 1.82 ounces of gold per ton (opt) or 12.2 meters of 62 grams of gold per tonne (gpt) and 30 feet of 0.91 opt (9.1 meters of 31 gpt) along the Mahala Dike Trend and located in close proximity to the current development drift at Smith. Commenting on the exploration results, President and Chief Executive Officer Dorian L. (Dusty) Nicol said, "These are some of the most impressive drill results Queenstake has received from its near-mine underground program. These positive results are expected to provide resource and reserve additions this year and to extend the mine life at Smith beyond 2008. We are excited that these high-grade mineralized drill intercepts are within 180 feet of the current development drift and are currently adapting our mine plans to include initial mining of these mineralized extensions in the fourth quarter of 2006." new.stockwatch.com

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