1 Jul 2015 07:00
Alecto Minerals plc / EPIC: ALO / Market: AIM / Sector: Exploration & Development
1 July 2015
Alecto Minerals plc ('Alecto' or the 'Company')
Board Change
The Board of Alecto Minerals plc (AIM: ALO), the AIM quoted mineral exploration company focussed on West and East Africa, regrets to announce the resignation of Mark Wellesley-Wood, Non-Executive Chairman, with immediate effect. Mark is leaving the Board in order to focus on new work commitments following his recent reappointment to the board of Mwana Africa Plc. The Board wishes to thank Mark sincerely for his invaluable assistance during the past nine months and to wish him luck in his new role.
Following this change, the Board will consist of three Directors being Toby Howell, who will assume the role as Non-Executive Chairman, Mark Jones as Chief Executive Officer and Dominic Doherty as Operations Director.
Alecto's CEO, Mark Jones, commented:
"I would like to thank Mark Wellesley-Wood for the generous time and effort that he has given Alecto, whilst the Company has pursued its stated goal of moving from an explorer up the value curve and we wish him the best of luck in the next chapter of his career.
"Following the recent placing the Company is well positioned for the remainder of 2015 and well into 2016, as we aim to advance current discussions that will see a consolidated approach for the development of our early-stage exploration opportunities, together with actively evaluating opportunities which we believe could potentially bring us closer to achieving our overall objective of generating revenues through production. We look forward to updating the market when appropriate."
**ENDS**
For further information, please visit www.alectominerals.com or contact:
Alecto Minerals plc Mark Jones
| Tel: +44 (0)20 3137 8862 |
Strand Hanson Limited Richard Tulloch Matthew Chandler James Dance
| Tel: +44 (0)20 7409 3494 |
Beaufort Securities Limited Jon Belliss
| Tel: +44 (0)20 7382 8300 |
St Brides Partners Ltd Elisabeth Cowell Felicity Winkles | Tel: +44 (0)20 7236 1177 |
Notes to editors:
Alecto Minerals plc is an African focussed, gold and base metal exploration and development company quoted on AIM with exploration projects in Mali, Ethiopia and Burkina Faso.
In Mali, the Kossanto Project has a current independent inferred JORC code compliant resource estimate of 6.72Mt grading at 1.14g/t Au for an aggregate of 247,000 oz Au with a cut-off grade of 0.5g/t Au at Kossanto East. The Kossanto Project is located in the centre of the Kenieba inlier in western Mali. The Kenieba inlier is a block of ancient greenstones and granites hosting many significant gold deposits in Senegal and Mali, making it one of the most important gold regions in Africa.
The Kerboulé Project, located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso, is the near term focus of the Company to provide the basis for commencing a preliminary economic assessment. Alecto also holds two prospective gold exploration licences in Ethiopia.