- Scotgold Resources said new zones of interest had been identified for possible extensions to the orebody at its Cononish project in Scotland.

Ionic leach geochemistry had also been demonstrated as a more effective exploration tool to conventional whole of sample geochemistry.

'It is very encouraging that what was in effect a calibration exercise has already identified new targets within the test area over the Cononish deposit,' chief executive Richard Gray said.

'We look forward to what our exploration team can discover using these new techniques over our much larger Grampian project area in the coming years.'

'The company's expectation for the Cononish mine to become cash positive in 2020 will accelerate these exploration programs and facilitate our stated strategy of building a pipeline of projects in Scotland.'

At 8:56am: [LON:SGZ] Scotgold Resources Ltd share price was +1.5p at 34p

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