Niuminco announces bonanza grades of gold at Edie Creek

  • Sep 14, 2018 AEST
  • Team Kalkine
Niuminco announces bonanza grades of gold at Edie Creek

Metal and mining company Niuminco (ASX: NIU) today announced the bonanza grades of 83.3g/t gold from new Edie Creek veins. These newly discovered veins are located in the Ingopae area of Edie Creek, approximately 200 meters south of the old Ingopae “pit”.

Following the workings done by illegal artisanal miners 80metres to the southwest of Edie Creek vein, Niuminco’s team moved to bulk-sample this new, narrow, northeast-southwest running vein after exposing it further both along and down strike.

In the sampling results of Edie Creek system, the company released that 2.6 tonnes of the vein material have produced 218.7g of gold over the three days 10 to 12 September. This gold and 191.2g of silver were produced from 882g of wet amalgam, which is a typical ratio for Edie Creek vein materials. 

On 13 September 2018 sampling and processing has produced 1909g of wet amalgam which is reported to be refined and sold today, 14 September 2018.

The share price of this mid cap company elevated by 100% to $0.002 on 14 September 2018 (4:23 PM AEST). The stock of $2.66 million company has seen a performance change of -50% over the past one year.

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