Amara Mining Regulatory News (AMA)

20 Dec 2006 07:01

Cluff Gold PLC20 December 2006 20 December 2006 CLUFF GOLD PLC Cluff Gold Increases Gold Resource by 70% at Angovia Project in Cote d'Ivoire Cluff Gold Plc ("Cluff Gold" or "the Company") today announces that SRKConsulting ("SRK") has prepared an audited Mineral Resource statement for theAngovia Gold Project, Cote d'Ivoire. Key highlights: - JORC compliant Mineral Resource increased by over 70% to 330,000 ounces - Indicated Mineral Resource increased by 25% to 190,000 ounces - Feasibility study underway targeting open pit oxide resource - Further exploration and development drilling ongoing This resource update follows the ongoing reverse circulation (''RC'') drillingprogramme which started in May this year and was focused on four targets, namelyProspects 2, 3, 4 and AN2. The prospects are within two kilometres of each otherand Cluff envisages ore from each being trucked to a centrally located plant. Aspreviously announced, the Company has already purchased part of the processingplant and infrastructure from the previous mine operator. SRK's Mineral Resource statement, detailed in Table 1 below, is defined by theJORC code and is based on an audit of a resource estimate initially prepared byAnkobra Resource Services Ltd. The oxidised resource is reported based on a 0.5g/t Au cut-off and the sulphide resource at a 0.9 g/t cut-off. In each case theestimates are based on 3D block models of individual veins and vein zone.Individual assay values above 20g/t were cut to 20g/t prior to any gradeinterpolation. SRK considers the material to be potentially amenable to acombination of open pit and underground mining. Table 1: Resource Resource Tonnes Grade Content Content Category (millions) (g/t Au) (kg Au) (oz Au) Oxidised Indicated 2.78 1.4 4,000 130,000 Inferred 0.93 1.4 1,300 40,000 Sub-Total 3,71 1.4 5,300 170,000 Sulphide Indicated 0.87 2.0 1,700 60,000 Inferred 1.57 2.0 3,200 100,000 Sub-Total 2.44 2.0 4,900 160,000 All Material Indicated 3.65 1.6 5,700 190,000 Inferred 2.50 1.8 4,500 140,000 Grand Total 6.15 1.7 10,200 330,000 The total resource potential of the whole licence area, including the satellitedeposits and the area below the existing pits at Angovia, has been previouslyestimated at 800,000 ounces as announced in December last year and certainly themineralisation is open at depth and along strike on all of the above targets. Nodrilling under the existing pits has commenced as yet although a multipurposedrill rig capable of both RC and core drilling is presently on site. Thedrilling programme will extend through the forthcoming field season alongsidethe project development programme as recently announced by the Company. Mr. Douglas Chikohora, Technical Director of Cluff Gold, comments, "We aredelighted that our drilling programme at Angovia has significantly increased theJORC compliant resource. We expect to add more to the resource base with theongoing drilling programme currently underway. Further announcements will bemade on the results of this drilling in due course.'' Mt. Yaoure, Cote d'Ivoire The Mt. Yaoure permit is located 40km northwest of Yamoussoukro, the politicalcapital of Cote d'Ivoire, and covers a surface area of 534km(2). The licencearea includes the Angovia gold mine which operated between 1998 and 2003. Themine reportedly produced over 180,000 ounces of gold during this period by heapleaching some 2 million tonnes of oxide material. The Cote d'Ivoire governmenthas issued a certificate to CMA, a subsidiary of COGEMA, the French uraniummining group, evidencing that it has complied with the work prescribed by themining regulations relating to the protection of the environment and therestoration of the part of the licence area covered by the Angovia gold mine. The infrastructure in the area is good and includes a hydroelectric dam sixkilometres from the Angovia mine site. Qualified Persons: Dr Simon Ingram prepared the resource estimate for Ankobra Resource ServicesLtd. Dr Ingram has sufficient experience which is relative to the style ofmineralisation and type of deposit under consideration, and to the activitywhich he is undertaking, to qualify as a Competent Person as defined in the 2004edition of the 'Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves'. Dr Ingram consents to the inclusion in this pressrelease of the matters based on his information in the form and context in whichit appears. SRK's audit was prepared under the direction of Dr. Michael Armitage who is theCompetent Person who assumes overall professional responsibility for theCompliance Opinion and who is a Member the Institute of Materials, Metals andMining which is a 'Recognised Overseas Professional Organisation' (ROPO)included in a list promulgated by the Australian Stock Exchange (ASX) from timeto time Dr. Michael Armitage is a full time employee of SRK and has sufficientexperience which is relevant to the style of mineralisation and type of depositunder consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2004 Edition of the 'Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr.Michael Armitage consents to the inclusion in this press release of the mattersbased on his information in the form and context in which it appears. For further information, please contact: Cluff Gold WH Ireland Parkgreen CommunicationsJ.G. Cluff / Douglas Chikohora David Youngman Cathy Malins / Annabel LeatherChairman / Technical Director Tel: 0161 832 2174 Tel: 020 7493 3713Tel: 020 7340 9790 This information is provided by RNS The company news service from the London Stock Exchange