Amara Mining Regulatory News (AMA)

31 Jan 2008 10:34

Cluff Gold PLC31 January 2008 31 January 2008 AIM: CLF Cluff Gold plc ("Cluff Gold" or the "Company") Drilling update at Baomahun Gold Project, Sierra Leone Cluff Gold today announces the submission of a Mining Lease application,drilling progress and further high grade drill intersections at the BaomahunGold Project, Sierra Leone ("Baomahun") in West Africa. Highlights: • Thirty eight core holes totalling 9,000 metres drilled since November 2007 • Initial assays results from current phase of drilling campaign already received • Drill holes DDH 169 and DDH 175 intersected 7 metres @ 8.22g/t Au from 352 metres and 36 metres @ 2.7g/t Au from 61 metres respectively • Third drill rig has been mobilised to site to initially undertake metallurgical drilling • Environmental baseline study completed in Q1 2008 • Application for a Mining Lease has been submitted to government Douglas Chikohora, Technical Director of Cluff Gold commented "We are pleasedwith the ongoing progress at Baomahun including the latest drill results. Notonly are these results encouraging in themselves, but they also continue tobuild upon earlier similar results which are yet to be incorporated into aresource update for Baomahun. In addition, the application for a Mining Lease inline with the country's mining laws marks an important milestone in thedevelopment of Baomahun." Drilling Results Of the 25,000 metre drilling programme, a total of 9,000 metres have beendrilled in 38 holes since the commencement of the dry season in November 2007.Assay results from some of these holes have been received and the table belowsummarises some of the more significant intersections from this drilling. Hole ID Inclination(0) Azimuth (0) From (m) To (m) Intercept Grade Zone Width (m) (g/t Au) DDH169 45 196.5 352 359 7 8.22 Eastern DDH170 45 196.5 47 51 4 2.01 Eastern DDH1173 45 196.5 133 139 6 2.10 Eastern DDH175 45 196.5 31 36 5 1.19 Eastern 61 97 36 2.70 Eastern 103 107 4 1.03 Eastern Drilling Progress Drilling with two rigs on double shifts recommenced after the Christmasholidays. The current target is to complete 25,000 metres before the start ofthe rainy season in July 2008. The programme is focusing on infill, down dip andstrike extensions drilling to known mineralization within and adjacent to theultimate pit shell outlined in the Scoping Study. A third rig, which will undertake some 2,000 metres of drilling and enablesamples to be taken for detailed metallurgical test work, has arrived at siteand is being commissioned to start work shortly. This rig is capable of drillinglarger diameter (PQ) holes. On completion of this work, the rig will be deployedto undertake conventional core drilling together with the other two rigscurrently operating on site. The additional drilling and metallurgical data will be incorporated into thePre-Feasibility Study, that is due for completion by the end of 2008. The Company has also now received the Environmental Baseline Study report onBaomahun. This will be reviewed and recommendations followed up as part of theplanned Pre-Feasibility Study. Mining Lease Application An application to upgrade the Baomahun exploration licence into a mining leasehas now been submitted to government. Under the current mining laws of thecountry, a mining lease, if granted, is granted for an initial period of up to25 years and renewable for a possible further period of up to 15 years. Qualified Persons: Douglas D Chikohora has reviewed and approved the information contained in thisannouncement. Douglas D Chikohora, Msc, MIMMM, CEng, is Technical Director ofthe Company. For further information, please contact: Cluff Gold plc WH Ireland Limited J.G. Cluff / Douglas Chikohora David Youngman Chairman / Technical Director Katy Mitchell Tel: +44 (0) 20 7340 9790 Tel: +44 161 832 2174 Seymour Pierce Limited Parkgreen Communications Charles Kernot Louise Goodeve / Justine Howarth Director Metals and Mining Tel: +44 (0) 20 7851 7480 Tel: +44 (0) 20 7107 8000 Notes to Editors: About Cluff Gold Cluff Gold plc is focused on the identification, acquisition and development ofgold deposits in West Africa that are amenable to open-pit mining and low costproduction techniques. The Company has made significant progress since its floatation on AIM inDecember 2004, increasing gold resources across its projects, expanding theproject portfolio and broadening the investor base to an increasinglyinternational audience. 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 417km(2) including a 50km2 mining permit. The licence area includes the Angovia gold mine whichoperated between 1998 and 2003. The mine reportedly produced over 180,000ounces of gold during this period by heap leaching some 2 million tonnes ofoxide material. The infrastructure in the area is good and includes ahydroelectric dam six kilometres from the Angovia mine site. Recently, the company announced the commencement of gold production at Angoviaat an annualized rate of 40 000 ounces of gold. Kalsaka, Burkina Faso Kalsaka is located approximately 150km north west of Ouagadougou, the capital ofBurkina Faso, and contains an oxide gold mineral resource of 600,000 ounces thathas been demonstrated, by a feasibility study, to be technically amenable toopen-pit mining and processing via heap leaching. Water, environmental andmining permits for the project have been granted. The mining permit is valid fortwenty years. Baomahun, Sierra Leone. The Baomahun Gold Project covers an area of about 137 km-2 and is located about180 kilometres east of Freetown, in the Southern Province of Sierra Leone. Thegeological setting is similar to the Lake Victoria goldfields in Tanzania.According to the terms of a joint venture agreement with the owner of Baomahun,Winston Mines Limited, Cluff Gold has recently completed an earn-in of a 60%interest in the Baomahun prospect by spending US$5 million on exploration /development funding. A JORC resource of 1,160,000 ounces has so far beendelineated at Baomahun, though more than 70% of the defined mineralised zone isyet to be drilled. This information is provided by RNS The company news service from the London Stock Exchange