Casmynfinds gold in Zimbabwe

Seven new gold-bearing reefs have been found by Nevada-based Casmyn (USOTC) around the Turk mine in central Zimbabwe.

The reefs cover a strike length of 240 metres, and drilling intercepted the gold mineralization between 100 and 160 metres below surface.

The company recently acquired 18 mining properties in the Bubi greenstone belt, north of Bulawayo. Of these, the Turk mine is the largest, having already produced more than 400,000 oz. Mineralization is hosted in a shear zone of multiple gold-bearing reefs ranging in width from 2 to 30 metres.

The Turk contains 3.7 million oz., including a reserve of 1.3 million oz., and the new discovery could add significantly to Casmyn’s reserves there. Two core rigs are testing the strike and downdip extensions of the mineralization.

Processing plants at the mine have a throughput capacity of 1,500 tonnes per day and produce 8,000 to 10,000 oz. per year. By modifying its mining techniques, Casmyn expects to boost production to 25,000 oz. this year, 40,000 oz. in 1997 and 100,000 oz. by 1999.

Highlights of the drilling are as follows:

HoleThicknessGold

(m)(g/t)

4W-15.426.99 (Reef 1)

5W-11.168.50

6W-11.633.94

7W-10.645.78

4W-12.826.45 (Reef 2)

5W-11.939.25

6W-12.886.88

7W-12.0012.34

6W-12.139.94 (Reef 3)

6W-12.028.40 (Reef 4)

6W-11.604.22 (Reef 5)

6W-15.894.67 (Reef 6)

6W-13.00(n/a) (Reef 7)