22nd Sep 2014 10:30
LONDON (Alliance News) - Amara Mining PLC said Monday that it remains on track to complete its first of two mineral resource updates at its Yaoure gold project in West Africa later in the month, as drilling results further increased its confidence in the deposit.
The gold mining company said that it had received the latest 18 diamond drill results from the high-grade CMA zone of Yaoure. The results showed significant intercepts including 7 metres at 16.1 grams per tonne from 279 metres depth in hole YDD0292, and 25 meters at 4.1 grams per tonne from 90 metres depth in hole YDD0278, amongst others.
16 diamond drill results from the Yaoure Central zone showed intercepts including 20 metres at 4.1 grams per tone from 239 meters depth in hole YDD0273, and 2 metres at 41.2 grams per tonne from 233 metres depth in hole YDD0274.
Section diagrams of the CMA zone show continuing between boreholes drilled in the 2012/13 campaign and the 2014 campaign, Amara said, helping to underpin its confidence.
Amara said its 2014 drilling campaign is three quarters complete, with over 61,000 metres drilled to September 14 out of the total 83,000 metres planned.
It will deliver its first mineral resource later in the month, based on results received by August 8. A second mineral resource update is expected in the fourth quarter of 2014.
Amara said it is fully funded to deliver a pre-feasibility study in the first quarter of 2015.
Shares in Amara were trading up 0.2% at 21.66 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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