Minmet, the exploration group, is to extend its gold drilling programme in Devon, south-west England. This is operated by its 78 per cent owned subsidiary, Crediton Minerals. Its third programme had conducted 687 metres of drilling and had found elevated gold values of up to 5g/tonne in five of the seven holes, Minmet said. The fourth programme, now being carried out, will drill holes north of the prospect.

"These encouraging results demonstrate the board's confidence in the prospectivity of the licence area," said Minmet's chairman, Mr Jeremy Metcalfe.