BPC.L Regulatory News (BPC)

11 Apr 2005 07:00

Falkland Gold and Minerals Ltd11 April 2005 FALKLAND GOLD AND MINERALS LIMITED OPERATIONAL UPDATE - DRILLING UNDERWAY IN THE FALKLAND ISLANDS 11 April 2005 Falkland Gold and Minerals Limited (AIM: FGML), the exploration company withexclusive rights to explore for gold and minerals in the Falkland Islands,announces today the following operational update. Drilling Summary The Company's first drill rig "Falklands 1" has been commissioned and drillingcommenced on 4th March. By the end of March, over 600 metres of HQ sized (67 mmdiameter) core had been produced with this drilling conducted on Target 5. Thiscore will be logged and samples prepared for analysis with the first resultsexpected to be compiled by June. The second drill rig "Falklands 2" arrived in the Falklands on 14th March and isbeing commissioned. Goose Green Facilities Refitting of an existing building as the Core Shed and Sample Handling Facilitycontinued in March. A concrete floor has been laid within the main facility toestablish safe and level working surfaces, the first stage of the core storagerack has been constructed, and the core saw has been commissioned. Theelectrical installation, including 3-phase wiring and installing lights, will becarried out in April. Surveys Preparations for a ground magnetic survey programme were completed and theCompany has contracted Geo Explo Ltd of Santiago, Chile to conduct the survey.The surveying team has arrived in the Falklands and will be embarking on theplanned 1,500 line-kilometre programme over the next 2-3 months. All geological work is being supervised by Derek Reeves, FGML's OperationsManager, who is a qualified geologist and based in the Falkland Islands. In summary, the drilling programme is on schedule and management is pleased withoperational progress. Enquiries FGML +27 (82) 44 06710Richard Linnell, Executive Chairman Press & Investor RelationsBell Pottinger Corporate & Financial +44 (0)20 7861 3232Nick Lambert W.H. Ireland Limited +44 (0)20 7397 3230Philip Haydn-Slater -END- This information is provided by RNS The company news service from the London Stock Exchange