All three of the most recent Reverse Circulation (RC) holes intersected significant widths of high-grade gold mineralisation within the current JORC compliant resource of 1.44Mt @ 6.2g/t Au for 286,000oz.

DREX177 tested ~15m beneath the current upper level Main Lode stope design. The hole intersected 5m @ 4.9g/t gold in the Main Lode position, and has the potential to increase the resource and improve the early production scenario.

In-fill holes DREX178 and 179 tested the upper parts of Main Lode towards the west of the resource, and intersected 9m @ 5.7g/t and 11m @ 6.5g/t gold respectively. Both intercepts are at least in line with those predicted by the resource model.

Cortona's Managing Director, Mr Peter van der Borgh, said the ongoing program of near-mine drilling, which is designed to convert resource ounces to reserve and increase the existing JORC resource, was proving to be very successful.

"I have maintained for a while now that the continuity of the mineralised widths and grades at Dargues sets it apart from many gold deposits where 'nugget effect' and 'pinch and swell' geometries can seriously complicate resource modeling and mining," he said.

"The results so far this year further confirm the robust nature of the mineralisation," Mr van der Borgh continued. "The holes drilled beyond the current stope design are within 100m of surface and should add to the early production schedule at Dargues."

All relevant consultants have now been engaged and have commenced the required work to complete the Environmental Assessment and specialist studies.

The Preliminary Environmental Assessment is to be completed in time for Project Focus Meeting. A Trade-off study of power has been completed. Surface water and groundwater studies have been completed and their recommendation are pending.

Air Quality, Ecology, Heritage, Traffic and Soil Assessment Studies have commenced and initial reports are expected in the coming weeks.

Cortona reports that the Feasibility Study is well underway and is progressing through to the detailed mine design phase.