Kolar intersects high-grade gold mineralisation at historic Indian deposit

Indian gold exploration and development firm Kolar Gold has intersected high-grade gold mineralisation after surface drilling at the Chigargunta deposit in the South Kolar licence area, India.

According to a statement released on Tuesday drilling results from 13 holes at the Chigargunta NE deposit show an indicated resource of 13,200oz at 15.1g/t.

Mining of the Kolar gold fields have been traced back to the Indus Valley Civilization which thrived during the first millenium. The area was mined until a decade ago before by state-owned Bharat Gold Mines before the high cost of underground mining and the low gold yield, forced operations to shut down.

Click here for the detailed drilling results..