27th Jan 2014 11:50
LONDON (Alliance News) - Aureus Mining Inc Monday said it has found mineralisation following ten drill tests at the Ndablama Gold Project in Liberia.
The gold-mining company, with operations in Liberia and Cameroon, said the first ten drill holes from phase four drilling at the site included a 33 metre space at 3.0 grams per tonne of gold and an 18 metre space with 3.5 grams per tonne of gold.
The Ndablama site is within the northern block of the company's 100%-owned Bea Mountain Mining licence and is situated 40 kilometres from Aureus' flagship New Liberty Gold project.
The company said the results confirmed the continuity of a key mineralised system for a further 130 metres, with intercepts commencing at 90 metres below surface.
Aureus said the drilling programme is designed to expand the current inferred resource at the site of 451,000 ounces at 2.1 grams per tonne gold and will include a total of 50 drill holes altogether for roughly 10,000 metres.
The news comes after the company announced increased recovery at the Ndablama site in December following a cyanide leach test for both the oxide and sulphide material, including gold recoveries of 92% and 94%.
Aureus Mining shares were down 0.4% to 32.00 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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