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Vangold Resources Commences Drilling at Kafunjo, Uganda

Source: www.gulfoilandgas.com 6/2/2008, Location: Africa

Vangold Resources reported that the drilling was going well and that the first hole, logged to 288 meters, showed pyrrhotite with specks of chalcopyrite in the bedding. This is similar to rock in previous holes that were drilled in 1995. The target depth of this hole is 800 to 1000 meters. The drill program is designed to drill to the targeted depth of the anomaly between 650 to 800 meters as defined by the geophysics and gravity surveys. Work on Kafunjo is carried out under the supervision of Mr. Goldsmith a qualified person as defined by National Instrument 43-101.

The Kilembe property consists of 5 contiguous licenses that cover copper-cobalt anomalies identified by Falconbridge and are located near the past-producing copper-cobalt mine operated by Falconbridge from 1956 to 1972. Geological mapping and sampling are planned for 2008.

The West Nile properties cover known gold occurrences in the Ugandan greenstone belt directly east of the Kilo Moto goldfields in the adjacent Democratic Republic of the Congo. Anglogold Ashanti has been actively exploring the district surrounding the old Kilo mine since 2005 and Moto Goldfield’s Moto Mine currently has indicated resources in excess of 10 million ounces of gold and another 11 million ounces in the inferred category. In Uganda, small scale mining of placer gold at West Nile suggests that potential exists for similar gold deposits in the geological continuity of this mineralized belt. In 2008 the Company plans to commence reconnaissance exploration on the West Nile properties in the form of geological mapping and sampling.

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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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