6 Feb 2009 13:43
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6Β FebruaryΒ 2009Β AIM: GMA
GMA Resources Plc
("GMA" or "the Company")
RecordΒ ProductionΒ of 3,391 ouncesΒ ofΒ gold inΒ January 2009
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In January 2009Β theΒ AmesmessaΒ Gold Mine in AlgeriaΒ producedΒ 3,391 ouncesΒ ofΒ goldΒ which was slightly above management expectationsΒ of 3,000 ounces. In addition, the mine also producedΒ 605Β ouncesΒ ofΒ silver. Douglas Perkins, Chief Executive Officer of GMA, commented: "Under normal operating conditions, we would announce production on a quarterly basis however, during this ramp up period at Amesmessa, since the delivery of commercial quantities of explosives which started in early November 2008,Β the DirectorsΒ Β consider it appropriate toΒ inform investors of achieved productionΒ on a monthly basis. It was exciting to see theΒ mine operatingΒ under full scale operating conditionsΒ during a recent visit. This is the first time Amesmessa has operated at full capacity and we areΒ analysingΒ how the site worked versus planned operations.Β We will continue to fine tune the operation to maximum efficiency as we gain more experience over the next couple of months." Enquiries: GMA Resources PlcDouglas Perkins+1 514 806 6788 John East & Partners LimitedBidhi Bhoma / David Worlidge+44 (0) 20 7628 2200Notes to Editors: GMA owns a controlling 52Β per centΒ stake in ENOR spa ("ENOR"), the Algerian based operating company for the Amesmessa project, with the remainder owned by Sonatrach, the Algerian state-owned oil andΒ gasΒ company. ENOR holds the exploitation authorization to the Tirek-Amesmessa property, an area of some 1,417 km2,Β located approximately 450km south west of the cityΒ ofΒ Tamanrasset, in southern Algeria. Amesmessa is an open pit heap leach gold mine located in the extreme south of the permit area. The Tirek gold mine is located in the northern third of the exploration permit area, some 60 km north of Amesmessa. Research to date suggests that the Zita Zone, which lies between Tirek and Amesmessa, offers considerable potential for the development of additional prospects amenable to open-pit mining. GMA plans to expand upon resources outside of the major 80kmΒ north/southΒ Tirek-Amesmessa faultΒ and other exploration targets on the property.Β |
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