15th Oct 2014 09:51
LONDON (Alliance News) - Amara Mining PLC saw its shares fall Wednesday, despite saying it was encouraged by the latest drilling results from its Yaoure gold project in Ivory Coast, which confirmed high grade mineralisation throughout the deposit.
In a statement, the West Africa-focused gold miner said the latest 30 diamond drill results from the Yaoure Central zone continued to demonstrate high grade areas, while the latest 5 diamond drill and four reverse circulation results from the CMA zone showed further continuity of the high grade mineralisation.
"With the 2014 Yaoure drilling programme almost complete, our geological knowledge of the deposit has improved significantly and we remain on track to complete the second Mineral Resource update later in December 2014. The Yaoure project is outperforming my expectations and I fully expect the preliminary feasibility study in the first quarter of 2015 to demonstrate that it is one of the strongest economic, undeveloped gold deposits in West Africa," Amara Chairman and Chief Executive John McGloin said in a statement.
Still, its shares were down 4.1% at 18.60 pence Wednesday morning.
Highlights of the latest drilling are as follows:
Latest 30 diamond drill ("DD") results from the Yaoure Central zone continue to demonstrate high grade areas, with significant intercepts including:
o 12m at 3.78g/t from 145m in hole YDD0305
o 4m at 7.84g/t from 48m in hole YDD0307
o 6m at 6.26g/t from 168m in hole YDD0317
o 13m at 3.46g/t from 47m in hole YDD0335
o 5m at 9.06g/t from 172m in hole YDD0335
· Latest 5 DD and 4 reverse circulation ("RC") results from the CMA zone show further continuity of the high grade mineralisation, with significant intercepts including:
o 22m at 3.99g/t from 141m in hole YDD0309
o 4m at 7.05g/t from 144m in hole YDD0333
By Steve McGrath; [email protected]; @stevemcgrath1
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