LONDON (Alliance News) - Aureus Mining Inc Thursday said it has received further strong results from two drill programmes at the Ndablama gold project on the company's Bea Mountain mining licence in Liberia.
The gold-mining company, which is building Liberia's first commercial gold mine 40 kilometres from the Bea Mountain licence, said it found a range of strong intercepts following diamond core drilling, which were drilled to its current inferred mineral resource of 451,000 ounces at 2.1 grams per tonne of gold.
Some of the intercepts include a 2.4 grams per tonne region over 30 metres from 211 metres in depth and a 3.2 grams per tonne region over 7 metres from 275 metres in depth.
The company said the drill results to date confirm the continuity of the mineralised system at the site for another 300 metres beyond the limits of its initial resource, more than doubling the size.
Aureus said that all of its drill holes found mineralisation and intercepts all start from between 90 metres in depth and 240 metres in depth.
To date results have been announced on 37 diamond core drill holes from a planned 62 hole drill programme, assay results are pending for 12 holes and 13 are still to be drilled.
The company added that a separate reverse circulation drilling programme at the same site, in order to help upgrade its current inferred resource, found further strong results including a 2.7 grams per tonne region over 26 metres from 168 metres in depth and a 4.6 grams per tonne region over 9 metres from 94 metres in depth.
Aureus said its reverse circulation drilling programme is now complete for a total of 39 holes and roughly 5,828 metres, with assay results pending on 25 holes.
The company said it expects the full phase-four reverse circulation and diamond core drilling programme to be complete by the end of July as the rainy season has now started. It added that once it receives the results it will undertake a new resource estimate for the site in the fourth quarter.
In addition, Aureus said it plans follow-up exploration drilling on both its Ndablama North region and Leopard Rock South region during the next field season in the fourth quarter after strong trenching results from testing at the regions.
Aureus Mining shares were up 0.5% to 25.00 pence on Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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