14th Jan 2014 13:22
LONDON (Alliance News) - Sovereign Mines of Africa PLC Tuesday released its JORC compliant mineral resource report for its flagship Mandiana Gold Project in Guinea.
The gold resource company, focused on Africa, said the total inferred mineral resource at the site is 16 million tonnes at a gold grade of 1.2 grams per tonne representing 610,000 ounces of gold.
The company said that of the inferred resource is made up of 420,000 ounces of high grade gold above 1 gram per tonne and 190,000 ounces of low grade gold.
The report, which was completed by SRK Consulting UK Ltd, will support the release the release of the company's first resource estimate for the site.
Sovereign Mines of Africa shares were down 5.9% to 2.00 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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