Kemin Resources Regulatory News (KEM)

8 May 2006 09:37

GMA Resources PLC08 May 2006 GMA Resources Plc 8 May 2006 Project Update GMA Resources Plc, is pleased to announce that an airborne magnetic andradiometric geophysical survey program commenced on 7 May over the 1,417 squarekm ENOR concession situated in Southern Algeria. The permit hosts the Tirek andAmesmessa gold projects and is jointly held by GMA (52%) and Sonatrach (48%). Fugro Airborne Surveys (Pty) Ltd ("Fugro") was selected as the contractor to flythe survey. Fugro operates around the world with approximately 8,500 staffpermanently stationed in over 50 countries. A fixed wing platform will be used to fly 9,115 line km over the entireconcession. E-W survey lines will be 200m apart, with infill lines added at100m spacing over two blocks covering the Tirek and Amesmessa projects, as wellas N-S control lines. Parameters to be recorded include total magnetic field andhorizontal and longitudinal gradients, 4-channel gamma-ray spectrometry(radiometrics) and altimetric data to generate a Digital Terrain Model map. For the duration of the programme, Fugro will operate out of ENOR's camp atTirek and will use the airstrip, the logistical support and the availablefacilities on site. Southern Geoscience Consultants ("SGC") at Perth, Australia was retained by ENORto design the survey specifications and provide independent Quality Assurancecontrol on data acquisition and processing by Fugro. SCG will complete the finaldata processing, interpretation and ranking of the targets. A representative selection of rock samples was collected recently along atraverse across the concession in order to measure their magnetic susceptibilityto help correlate the rock units with their signature on the geophysicalresults. Concurrently to the geophysical survey, a combination of geological andstructural interpretation of aerial photographs and satellite imagery will beused to enhance the structural features and help delineate target areas forfurther exploration. In addition, a soil and stream sediment samplingorientation survey was carried out in April in preparation for furtherdefinition of the new targets. This integrated approach will help ENOR fully evaluate the potential of theconcession for which large portions have not been the subject to detailedexploration work. While the results from the geophysical survey are awaited, field work will focuson mapping and sampling new quartz veins and mineralized alteration haloes.Quartz veins areas where the mineralized salvages were neglected will bere-sampled for their potential to provide additional lower-grade goldmineralization amenable to heap leaching process. The design and supervision of exploratory work on the concession is under theresponsibility of ENOR's geologists Prof. A. Boufassa, PhD (TechnicalCoordination Manager), Jan van Graan (Geological Consultant) and Yves A. Buro(Geology Manager), a Qualified Person for the purposes of Canadian NationalInstrument 43-101 that sets out minimum standards of Disclosure for MineralProjects. The Board of ENOR recently approved a budget of US$1,000,000 for exploration tobe carried out to over the next year. It should also be noted that GMA announced on 12 April 2006 that ENOR hasstarted the construction of a 1,500 tonnes per day heap leach plant atAmessmessa and the upgrade of the Tirek CIL plant from 150 to 300 tonnes perday. Also 23 pieces of Caterpillar equipment and three Tamrock drills have beenordered for delivery in 2006, starting in May 2006. Annualized gold productionof 100,000 ounces per year is expected as of January 2007. Enquiries: GMA Resources PlcDouglas Perkins - Chief Executive OfficerTel: +44 (0) 20 7253 7670Mobile: +1 514 806 6788 Philip Secrett/Fiona OwenGrant Thornton Corporate FinanceTel: +44 (0) 20 7383 5100 This information is provided by RNS The company news service from the London Stock Exchange