31 Aug 2011 07:00
31 August 2011
Sovereign Mines of Africa Plc
("the Company")
Drilling Update & Senior Management Appointment
On 4 July the Company announced that a diamond drilling programme had commenced at its Mandiana Magana gold exploration property in the Republic of Guinea, which was expected to complete by the end of September.
Diamond drilling is possible during the rainy season in this area, but weather conditions this month have been so severe, that it has been decided to discontinue the programme until conditions improve. The seasonal rains have so far proved to be the worst seen in some 20 years and it is not now expected that drilling will recommence until October.
This delay does not in any way diminish the confidence that the Directors have in this outstandingly prospective property and the Company has the resources to deal with any financial implications, which are not, in any event, considered to be material.
The Company is also pleased to announce the appointment of Glenn Kendrick to head up the exploration team in Guinea as Country Manager.
Glenn has a wide experience and proven track record of managing and developing exploration programmes, for a number of public companies, including de Beers and BHP Diamonds. His technical knowledge of mining and geology learned through nearly 30 years of management experience in Africa, including Guinea, will be invaluable to the Company.
Ends
Enquiries:
SOVEREIGN MINES OF AFRICA PLC
David Pearl, F.C.A. - Chairman
+ 353 696 8961
david.pearl@pearlcp.com
RIVINGTON STREET - CORPORATE FINANCE, JOINT BROKER
Jon Levinson - Corporate Broking
+44 20 7562 3357
SHORE CAPITAL - NOMINATED ADVISER & BROKER
Andrew Raca/Toby Gibbs - Corporate Finance
+44 20 7408 4090
SQUARE1 CONSULTING LIMITED
David Bick/Mark Longson
+44 207 929 5599