Yesterday Kentor Gold released a report on the results of a 60-hole air core drilling program at Burnakura. This was really the first round of exploration in areas where there are currently no known resources/reserves.
The exploration area was 2km north of the known gold Resource and it targeted a magnetic structure interpreted as containing a repetition of the Burnakura Thrust zone. The results were disappointing with low levels of gold anomalies (<0.2g/t) being identified.
There is however a more substantial 20,000 m RC drilling program that will commence in January 2012 which should yield some more promising result.
All in all it was a “nothing” announcement and the market moved on.
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