Amara Mining plc: Resource Update for Yaoure Gold Project
25.03.2013 | Marketwire
LONDON, 25 March 2013 - Amara Mining plc ("Amara" or "the Company" or "the Group") (LSE: AMA)/(TSX: AMZ), the dual AIM and TSX-listed West African focused gold mining company, is pleased to announce an updated NI 43-101 compliant Mineral Resource estimate for its 90% owned Yaoure Gold Project ("Yaoure") in Cote d'Ivoire.HIGHLIGHTS
- 1.7 million ounce sulphide Inferred Mineral Resource delineated at Yaoure (34.6Mt at 1.52g/t)1
- Indicated Mineral Resource upgraded to 0.3 million ounces (8.0Mt at 1.31g/t) 1, 2
- Mineral Resources contained within 40% of the total mineralised volume drilled to date
- Further Mineral Resource update expected in H2 2013 from on-going in-fill drilling campaign
- Resource grade is expected to be updated through definition of additional resources via in-fill drilling below the higher grade CMA North-Central pit
- Resource is open at depth and along strike with all 106 holes drilled in 2011/12 encountering mineralisation
- Initial metallurgical testwork has confirmed the non-refractory nature of the gold mineralisation with 94% recovery in a conventional carbon-in-leach ("CIL") circuit
- Preliminary Economic Assessment ("PEA") is expected to be completed in Q4 2013
- Location of Yaoure is highly advantageous due to close proximity to Kossou dam, which offers cheap hydo-electric power and abundant water, excellent roads and accommodation
1. Using a 0.8g/t cut-off
2. Previously 0.2 million ounces Measured and Indicated (4.9Mt at 1.6g/t) using a 0.5g/t cut-off, an uplift of 90,000 ounces
For more information please contact:
Amara Mining plc
+44 (0)20 7398 1420
John McGloin, Chairman
Peter Spivey, Chief Executive Officer
Pete Gardner, Finance Director
Katharine Sutton, Head of Investor Relations
Canaccord Genuity Limited
+44 (0)20 7523 8000
(Nominated Adviser & Broker, London)
Andrew Chubb / Sebastian Jones / Tim Redfern
Pelham Bell Pottinger
+44 (0)20 7861 3232
(Financial Public Relations)
Charles Vivian / Lorna Spears / James MacFarlane
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