Georgina Energy Regulatory News (GEX)

11 Nov 2005 11:04

Glencar Mining PLC11 November 2005 GLENCAR MINING PLC Glencar to Commence Drilling in Mali 11 November 2005 Glencar is pleased to announce that the drilling programme at Komana in Mali isscheduled to commence next week. Approximately 2,200 metres of reversecirculation drilling are planned on the Komana West mineralised shear system.The Komana West target is a north-south trending shear system with associatedextensive artisanal mining activity over a strike length of at least 1 kilometreand the programme is designed to intersect the mineralised shear system beneaththe artisanal workings. Geological and structural mapping carried out by Glencar at Komana West haslocated a significant mineralised zone hosted by metasedimentary rocks withclosely associated intrusive rocks of granitic composition, all within the north-south shear zone. Artisanal workings have shown that the mineralisation existsat depths of up to 60 metres from surface, at which depth the water table hasprecluded the artisanal miners from further mining. Previous sampling at KomanaWest has yielded grades from grab samples of up to 108 g/t. At the end of thelast field season, in June last, a rock sampling programme at Komana Westincluded the sampling of an east-west trending quartz vein system within theshear envelope. 19 grab samples were sampled from a 19 metres long north-southpanel along the exposure. Of the 19 quartz vein grab samples taken 16 returnedvalues of greater than 0.5g/t and the average grade of the 19 samples was 5.8g/t. The drilling programme will consist of 23 holes of average depth 95 metres. Allholes will be assayed for gold on a per metre basis. The results of the drilling programme are expected to be available early inJanuary 2006. The Komana licence is not part of the proposed agreement with Gold Fields. GoldFields may earn a 65% interest in the Bokoro, Sanioumale and Farasaba Licencesat Sankarani, through phased exploration expenditures on these licencestotalling US$12 million. The proposed agreement with Gold Fields is currentlybeing finalised, legal and technical due diligence having been satisfactorilycompleted. For Further Information contact: Glencar Mining plcHugh McCulloughTel: +353 1 661 9974e-mail: info@glencarmining.ie Heneghan PRRachel WatchornTel: +353 1 6607395e-mail: rachel@hpr.ie This information is provided by RNS The company news service from the London Stock Exchange