EAGM finds new high-grade deposit

EAST African Gold Mines' decision to delay its proposed IPO until early 2003 has been boosted by sensational gold intercepts from its new Gokona prospect in Tanzania, which could boost production from the recently commissioned US$100 million North Mara operation.

The latest drill hits at Gokona include 25m at 89.5 grams per tonne gold, 28m at 14.9gpt, 16m at 15.9gpt and 17m at 25.7gpt.