Cassidy cuts gold in Guinea (June 24, 2003)

Vancouver A six-hole drill program by Cassidy Gold (CDY-V) has returned promising grades from the Kouroussa property in Guinea, West Africa.

The 519-metre program tested three structural targets on the Koe Koe South zone leading to the discovery of two vein systems.

Hole 3 targeted the EW vein, where artisanal workings occur along a 500-metre east-west trend. The hole hit mineralized saprolite at 33.5 metres downhole yielding 7.07 grams gold per tonne over 1.9 metres.

Moving 250-to-550 metres south, holes 4 through 6 tested the SW vein, which is marked at surface by a northwest trending, 500-metre long trench dug by artisanal miners several centuries ago. Collared in the centre of the vein trend, hole 4 cut 16.87 grams gold over an estimated true width of 8 metres. Mineralization is hosted in mafic metavolcanic and metasedimentary rocks, apparently of Birimian age. Birimian lithologies host most of the major gold deposits of West Africa including Obuasi, Sadiola, and Siguiri.

Hole 5 was drilled 40 metres southeast and cut 100.9 grams gold over 3.52 metres. Included in this section was a 0.69 metre interval yielding 372 grams gold.

Moving another 100 metres southeast, hole 5 yielded 9.16 grams gold over 3.24 metres.

The first two holes targeted an area of artisanal diggings approximately 500 metres northeast of the SW vein with both holes cutting saprolite mineralization. Hole 1 returned 0.80 grams gold over 10.7 metres near the top of the hole and 0.84 gram gold over 23.3 metres lower down in skarn-type mineralization. Hole 2 returned 0.32 gram gold over 4.6 metres.

Based on these results, additional diamond drilling is being planned for later in the year.