Last checked at 19 Aug 2008 09:40
AIM: EMED 19 August 2008
BIELY VRCH GOLD EXCITING INTERCEPT - 460 METRES AT 1.1G/T
EMED Mining Public Limited ("EMED Mining" or "the Company") announces the result of the first drill intercept of its current in-fill drilling program at the Biely Vrch Prospect at the Company's Detva Licence in central Slovakia.
Highlights
Drillhole DVE27 intercepted 460m averaging 1.1g/t gold from surface to the bottom of the hole. Every metre was mineralised and mineralisation is open at depth. This intercept, in conjunction with earlier results has established known gold mineralisation from surface to a vertical depth of at least 380m.
The in-fill drilling program is in process with two drill rigs operating 24/7. Drill-spacing is an average of 100m apart. The orientation and spatial relationship of DVE27 is displayed on the appended geological maps uploaded to the Company's website
Results to date have defined a zone of mineralisation containing approximately 50 million tonnes with a grade range of 0.2g/t to 1.9g/t gold (typically 0.8g/t to1.1g/t gold), containing approximately1.2 million ounces of gold based on preliminary estimations. It remains uncertain if further exploration will result in the determination of a Mineral Resource as defined in the JORC Code.
Initial metallurgical testwork of Biely Vrch drill core samples indicates the gold mineralisation is not metallurgically complex.
Drilling in Slovakia recommenced in mid-April 2008 with programs designed to in-fill drill Biely Vrch and to test other identified targets. Drilling this year to date was mostly to scout outside this discovery zone in order to assist with planning activities for the course of the year. Several good targets will also be tested this year once geochemical sampling and other surveys are advanced.
Harry Anagnostaras-Adams, Managing Director of EMED Mining, commented: "Drilling at Biely Vrch is at a very exciting stage. Indications are that our Slovakian tenements have realistic potential for substantial gold deposits. This result is particularly significant and we will provide shareholders with a more comprehensive update on progress in the forthcoming months . "
Enquiries
| EMED Mining | Fox-Davies Capital | RFC Corporate Finance | Bishopsgate Communications |
| Harry Anagnostaras-Adams | Richard Hail | Stuart Laing | Nick Rome |
| +357 9945 7843 | +44 (0)207 936 5230 | +618 9480 2500 | +44 (0)207 562 3350 |
| GMP Securities Europe | Lewis Charles Securities | ||
| James Hannon | Kealan Doyle | ||
| +44 (0) 20 7647 2803 | +44 (0) 20 7456 9111 | ||
| www.emed-mining.com | |||
| www.emed.tv |
Competent Person
References in this announcement to exploration results and potential have been approved for release by Mr Ron Cunneen, B.Sc. (Honours). Mr Cunneen is Head of Exploration for EMED Mining and has more than 20 years' relevant experience in the field of activity concerned. He is a member of The Australian Institute of Geoscientists ("AIG") and has consented to the inclusion of the material in the form and context in which it appears.
Sampling and Assaying Procedures
All drilling on the Biely Vrch Prospects has been done with PQ (85.0mm diameter), HQ (63.5mm diameter) and NQ (47.6mm diameter) size core samples. Core recovery has averaged 95% throughout the mineralised zones. All core has been logged and separated into 1.0m lengths. PQ size core has been quartered, while HQ and NQ sized core have then been cut in half by a diamond saw. The split core has then been sent for assay.
Sample preparation has been done by ALS - Chemex in Romania and assayed for gold by 30gm fire assay (method Au-AA25). Both standards and blanks have been used in the sample batches sent by EMED to ALS - Chemex in line with EMED company quality control procedures.
Notes to Editors: About EMED Mining Public Limited
EMED Mining was admitted to trading on AIM in May 2005 following a placing of its shares and its share market capitalisation has since grown from approximately £4 million to approximately £46 million. The Company is based in Cyprus and has a strong commitment to responsible development of metal production operations in Europe, with an initial focus on copper and gold.
The Group's region of interest are the tectonic belts spanning across Europe and over to the Middle East. The strategy is to evaluate exploration and development opportunities in several jurisdictions throughout this quality mineral belt and to promote sustainable development practices through implementation of European Union and other leading-edge international standards. The Company strictly implements its Environmental & Community Policy which includes:
EMED Mining has now established a strong position in the following selected zones:
For further information on the Company's activities, visit www.emed-mining.com or www.emed.tv.