14th Dec 2005 07:01
Cluff Gold PLC14 December 2005 14 December 2005 CLUFF GOLD PLC Completion of Resource Update at the Angovia Gold Project in Cote d'Ivoire Highlights: - Near surface 190,000oz gold resource - Estimates support SRK'S previous conclusions of 300,000oz potential for 2 areas drilled to date - Estimates also support SRK'S previous conclusions of 800,000oz potential for total licence area - Average grade estimate increases from between 0.8 and 0.9 g/t Au to 1.9 g/t Au - Mineralisation remains open in all directions - Only two out of four satellite targets were covered by the recent drilling Cluff Gold Plc ("Cluff Gold" or "the Company") is pleased to announce that SRKConsulting (UK) Ltd ("SRK") has completed its assessment of the 2500 metrevalidation drilling programme carried out at the Angovia Gold Project at the MtYaoure Licence, Cote d'Ivoire. The drilling, completed in November 2005, has enabled the preparation of aresource estimate as defined by the JORC Code and has also confirmed SRK'sconclusions of the resource potential of the licence. Furthermore, this drillinghas also validated some of the results obtained from work undertaken by theprevious owner, COMINOR. SRK's work, which included a site visit, has confirmed the quality of both thenew and historical data. The following Mineral Resources, as defined by the JORCCode, have been estimated: Tonnes Grade (Au g/t) Ounces (Au) Total 3,100,000 1.9 190,000 Indicated 2,300,000 1.9 145,000Inferred 800,000 1.8 45,000 SRK has used a cut-off grade of 0.8 g/t Au for the oxidised material and 1.0 g/tfor the unoxidised material and the material in the transition between the two. Approximately 40% of the Indicated Mineral Resource and 55% of the InferredMineral Resource comprises oxidised material. Gold has previously beenrecovered from oxidised material during mining operations by COMINOR using theheap leach method. SRK considers that the drilling results and estimates support its previousconclusions that the two areas drilled to date have the potential to host inexcess of 300,000 ounces and the licence area as a whole to contain of the orderof 800,000 ounces. The Competent Person responsible for the estimates is DrMike Armitage, Managing Director of SRK. Further resource potential exists below the existing pits and at two othersatellite targets. Mr Douglas Chikohora, Technical Director of Cluff Gold plc, comments, "We aredelighted that this drill programme has enabled us to establish an initialmineral resource as defined by the JORC code, and this has been achieved in arelatively short time and at minimal cost to the Company. The Angovia projectcontinues to show significant potential for both oxide and sulphide material.Further work is now planned to extend the resource through additional drilling,targeting all the satellite prospects, as well as undertaking preliminarymetallurgical test work and density determination on material from the heapleachable, oxidised, near surface resources.'' For further information, please contact: Cluff Gold Numis Securities Parkgreen CommunicationsJ.G. Cluff / Douglas Chikohora John Harrison Cathy Malins / Annabel LeatherChairman / Technical Director Tel: +44 (0) 20 7776 1500 Tel:+44 (0)20 7493 3713Tel: + 44 (0) 20 7340 9790 Notes to Editors: Mt. Yaoure, Cote d'Ivoire The Mt. Yaoure permit is located 40km northwest of Yamoussoukro, the politicalcapital of Cote d'Ivoire, and covers a surface area of 534km2. The licencearea includes the Angovia gold mine which operated between 1998 and 2003. Themine reportedly produced over 180,000 ounces of gold during this period by heapleaching some 2 million tonnes of oxide material. The Cote d'Ivoire governmenthas issued a certificate to CMA, a subsidiary of COGEMA, the French uraniummining group, evidencing that it has complied with the work prescribed by themining regulations relating to the protection of the environment and therestoration of the part of the licence area covered by the Angovia gold mine. The infrastructure in the area is good and includes a hydroelectric dam sixkilometres from the Angovia mine site. The Company has agreed in principle toacquire the oxide plant on site from the Government of Cote d'Ivoire. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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