Dec 8 2010
Tonogold Resources, Inc. (Pink Sheets:TNGL) announced the commencement of a new drilling program at the Tonopah Divide gold project, which is located five miles south of the town of Tonopah, Nevada.
Centerra (U.S.), Inc., a subsidiary of Centerra Gold Inc. (TSX:CG), is managing the exploration program as part of the Mining Venture with Tonogold Resources, Inc. which was formed in March 2010.
The drilling program will consist of eight to ten holes for an approximate total of 9,800 feet of reverse circulation drilling. Diversified Drilling of Missoula, Montana is the drilling contractor. The first hole was begun on Sunday, November 28, 2010.
Centerra has conducted four previous drilling programs on the property from 2008 to 2010 totaling 69 holes and 63,955 feet of reverse circulation drilling.
The current program will follow up favorable results from the drilling this summer and will include drilling on the Combination, North Monte Cristo, Ruby Hill and New Divide Extension targets.
In particular, five new holes will be drilled on the Combination target to test for thicker and higher grade mineralization at depth and to test a parallel structure to the north.
Including the new drilling program, it is estimated that equity interests in the Mining Venture will be Centerra 70% and Tonogold 30%.
Source: Tonogold Resources, Inc.