RNS Text24 Feb 2011 07:24
HIGHLIGHTS
· Drilling has commenced on the priority targets within the Karan Exploration Licence
· Confirmation received that the Diatissan Exploration Licence has been renewed
Drilling Programme
African Mining and Exploration plc (the "Company" or "AME") is pleased to announce that the Phase 1 drill programme has commenced on the Karan Exploration Licence. As of 22 February, 2011, the first 7 of a 62 hole programme had commenced. Drilling will initially centre on the Fintakourouni target where 8 holes have been planned in short fences across the centre of the target area.
To date, drilling has intersected the expected suite of highly weathered metasediments and volcanic rocks prevalent in the area together with encouraging evidence of alteration, sulphide mineralisation and quartz veining.
The first batch of samples has been dispatched to the laboratory in Bamako for analysis.
Diatissan Licence
In AME's AIM Admission Document, the Company disclosed that an application had been submitted for renewal of an Exploration Licence over the 16km2 Diatissan Licence. AME has now received notification by the Ministry of Mines in Mali that this licence has been renewed for an initial period of 3 years (in accordance with the Mali Mining Code) with two further 3 year extensions providing the Company meets its obligations in terms of reporting and work programme commitments over the licence period.
The Diatissan concession exhibits many attributes favourable for the discovery of economic gold deposits. The Directors propose undertaking an initial 12-month work programme for the Diatissan prospect consisting of a compilation of available reports and data to a centralised database, a structural analysis of the tenement by satellite and aerial photograph interpretation, mapping and sampling of the artisanal pits followed by detailed ground magnetic, electromagnetic and possibly induced polarisation surveys. This will then be followed by drilling programmes based upon the results.