High grade gold discovered

A Canadian mining company has announced the discovery of new high grade gold and base metals at Bisha, some 150 km west of the Eritrean capital Asmara. Nevsun Resources Ltd, which owns 90 percent of the Bisha property, said the discovery was made after an initial phase of exploration drilling, totalling 804 metres in six holes. Prior work, carried out in 1998 and 1999, had defined a significant area of anomalous copper, lead and zinc, as well as the gold. "Similar base metal deposits occur in Eritrea at Dubarwa and Adi Nefas, located near the capital city of Asmara," Nevsun said in a news release issued on Wednesday. It noted that the Bisha exploration property covers 49 sq km and has "excellent port facilities on the Red Sea". Nevsun, which describes itself as an Africa-focused mine development and exploration company, has two key projects in Mali and Ghana. "Management believes that the new high-grade discovery at the Bisha property in Eritrea complements Nevsun's advanced Tabakoto and Segala Projects in Mali, West Africa, as they provide for regional projects and corporate growth," the news release said.