>компютриON (Thomson Financial) – Sheba Exploration (UK) Plc. said four percussion holes, ranging in depth between 40 metres and 52 metres, were drilled into gold geochemical targets at Shehagne EEL in northern Ethiopia from May 16-22, 2008.

All holes penetrated disseminated sulphide mineralisation, the group said. It added the drill holes penetrated pale grey felsic volcanic rocks carrying disseminated pyrite, which gives rise to an orange-red (limonitic) alteration zone at surface.

The alteration zone is usually associated with gold-bearing quartz veinlets, the company said. The average of all 27 quartz veinlets sampled in the area was 5.5 grams per tonne of gold.

Gold assays from the drill chippings will be carried out in due course. Further drilling may continue after the close of the rainy season in October, the company added.

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