December 3, 2010 / 5:17 PM / 7 years ago

Shares of Electra Gold shine on gold discovery

* Says 12 samples returns gold values up to 4.33g/t

* To continue drilling at the property until Christmas

Dec 3 (Reuters) - Shares of Electra Gold Ltd ELT.V rose more than 87 percent to its highest level in more than a year on Friday, a day after the company said it discovered gold in Apex Zone mine in British Colombia.

The company -- which has the option to buy Dot-Apex Claim Group, which owns the mine -- said the 12 samples collected across the zone returned gold values of up to 4.33 grams per tons.

The company said it will drill until Christmas at the property.

The Vancouver, British Columbia-based company’s shares were trading up more than 62 percent at 6.5 Canadian cents on the Toronto Venture Exchange. They touched a high of 7.5 Canadian cents earlier. (Reporting by Aftab Ahmed in Bangalore; Editing by Don Sebastian) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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