Gammon Gold (NYSE:GRS) Releases Ocampo Drilling Update

After the completion of its exploration program at Ocampo, Gammon Gold (NYSE:GRS) released its results, which at several different sites were reported as high grade.

Peter Drobeck, the Senior Vice President of Exploration and Business Development at Gammon Gold Inc., said, “We are very encouraged by the continuing positive results from our exploration program that supports the significant upside potential at Ocampo.”

The gold miner added they've already begun their exploration drilling program at Ocampo for 2011, which includes 11 rigs working at a variety of veins at the project.

For 2010, they used 12 rigs for the exploratory program, which the sites Refugio Norte, Resurrecion and Polvorin had high mineralization.

Gammon Gold closed Monday at $8.18, up $0.01, or 0.12 percent.