LONDON (Alliance News) - Golden Saint Resources Tuesday said initial results from Airborne Geophysical Interpretation of its Tongo, Baja and Moa projects have generated a number of targets and shown strong structural trends.
The Sierra Leone-focused diamond and gold exploration company said that the study, completed by Core Geophysics, has shown strong structural trends at the Tongo and Baja sites consistent with the regional structures hosting kimberlite dykes and known diamond resources.
The company said it also has identified a number of major structures which may control or host gold mineralisation at the Moa Project.
Golden Saint said it has now found in excess of 150 targets for investigation, with 38 targets ranked as high priority.
"Exploration and follow-up targeting at all of the Golden Saint projects have been greatly enhanced by the acquisition of this geophysical data, allowing us to focus on priority targets and once again highlights the prospectivity of the region and our focus on the Sierra Leone diamond fields," Executive Chairman Cyril D'Silva said in a statement.
The company also said that 107 stones have been sent to Hong Kong for certification, grading and laser inspection and that they are now expected to complete the process by the end of April 2014.
Golden Saint Resources shares were down 4.8% to 10.00 pence Tuesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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