FANCO

The company has completed three RC drill holes (200 m) on the Melhoy gold prospect to test this extent of gold mineralization discovered during last season's drilling and four holes (about 250 metres) on the Adi Kelbay quartz vein swarm. RC drilling is continuing on the Adi Kelbay and Hablesh South prospects.

The company has completed three RC drill holes (200 m) on the Melhoy gold prospect to test this extent of gold mineralization discovered during last season's drilling and four holes (about 250 metres) on the Adi Kelbay quartz vein swarm. RC drilling is continuing on the Adi Kelbay and Hablesh South prospects.

Completed a six-hole diamond core drilling program on the Wegeretai gold prospect. The results of the first two drill holes at the east end of the mineralized zone returned no significant values. Results from drill holes 3 through 6 under the main part of the workings are pending. A program of 450 m of RC drilling is planned at Melhoy. At Adi Kelbay, three kilometers southwest of Melhoy, 500 m will be drilled to test a parallel quartz vein system more than 400 m long. Additional holes will also be completed at Kurtutay and Asuna to test quartz veins and enclosing carbonate-alteration zones (Kurtutai) and quartz vein zones hosted by sericite-altered greywacke hornfels and felsic metavolcanics (Asuna).