11th Nov 2013 09:50
LONDON (Alliance News) - Aureus Mining Inc. Monday said it has completed positive maiden resource estimates at its Ndablama and Weaju gold projects at the company's 100% owned Bea Mountain licence in Liberia.
The gold-mining company, with operations in Liberia and Cameroon, said Ndablama showed a first inferred mineral resource of 451,000 ounces at 2.1 grams per tonne of gold. The resource strikes north at the site for 650 metres and down to a maximum depth of 120 metres below the surface.
The company said the next phase of drilling at the site will commence in November 2013 and will focus on expanding the current resource, while reconnaissance drilling, trenching and geological mapping will be undertaken in 2014 to test the whole pressure zone.
Aureus said Weaju uncovered a total inferred mineral resource of 178,000 ounces at 2.1 grams per tonne of gold after shallow studies at the areas Main, Northern and Ridge zones.
The company said further drilling will be undertaken at Weaju in 2014 to test the shallow depth extensions and to locate new sites for drilling at the site.
Aureus shares were up 4.6% to 37.65 pence in early trading Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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