17th Sep 2013 09:09
LONDON (Alliance News) - Sovereign Mines of Africa PLC Tuesday said encouraging results from its third-stage drilling programme in Guinea, the Mandiana-Magana gold project, merit the maiden gold resource estimate being conducted at the site.
The mineral exploration company, with operations in West Africa, said the gold project test results found a 43 metre interval averaging 5.91 grams per tonne of gold.
The company said the results prove that it was right to conduct a maiden independent resource estimate at the site which is expected for completion in early October.
"We believe these are very encouraging initial steps in the building of a substantial economic gold resource on this property," Director of Exploration, John Barry, said in a statement.
Sovereign shares were up 7.33% to 3.22 pence Tuesday.
By Tom McIvor; [email protected];
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