Gammon Gold strikes high-grade gold.

Online, October 13, 2009 (Newswire.com) - (Reuters) - Canada's Gammon Gold (NYSE: GAM) said it had struck high-grade gold and silver mineralization near its Ocampo mine complex in Mexico, helping drive the company's shares up 3.5 percent.
The company said drill results from a hole in the San Amado area at Ocampo showed an extremely high 336.68 grams per tonne of gold equivalent over a 0.5 metre length, while a hole in the Santa Eduviges area was graded 14.57 grams per tonne over 9 metres.
Gold equivalent ounces are a measure that factor in silver at its equivalent value in gold.
Gammon also said it had encountered "significant mineralization" near the Las Molinas, Altagracia and San Amado targets, which are part of an exploration program near Ocampo.
The company said it had planned to release an interim reserve and resource update at the end of the third quarter, but said it would be delayed due to recent drilling results as well as personnel changes on the company's technical services team.
Gammon Gold is one of the largest precious-metal producers.