23rd Jun 2006 07:00
Cluff Gold PLC23 June 2006 CLUFF GOLD PLC Encouraging drill results from the Angovia Gold Project, Cote d'Ivoire Cluff Gold Plc ("Cluff Gold" or "the Company") today announces the receipt ofassay results from the ongoing reverse circulation (''RC'') drill programme atthe Angovia Gold Project ("Angovia") in Cote d'Ivoire. Highlights: • Assay results received for some of the 24 holes drilled to date, totalling 1,900 metres • Significant high gold values were intersected in 5 holes, primarily in oxides, including hole ARC79 with 4 metres grading 9.76g/t Au • Strike extent further increases by 500 metres • Mineralisation remains open in all directions This drill programme followed the successful validation drill programme of lastyear, as recommended by SRK Consulting (''SRK''), and recent encouraging trenchintersections from the re-sampling of trenches excavated by the BRGM between1987 and 1990 (as announced on 3rd March 2006). A multipurpose rig, capable ofdoing both RC and core drilling, is on site and will complete the RC programmebefore embarking on the planned core drilling during this year's field season. Below is a table of some of the significant intersections encountered in theinitial RC drilling programme: Hole ID Dip (degrees) Intercept From (m)ARC76 50 [email protected]/t 39ARC78 50 [email protected]/t 4ARC79 50 [email protected]/t 47ARC80 50 [email protected]/t 0ARC82 50 [email protected]/t 55 The mineralisation remains open in all directions on the three satellitedeposits tested so far. The current drilling is targeting near surface oxideresources which could be treated in the recently purchased heap leach processingplant. The underlying sulphides below the newly discovered orebodies and theexisting pits found by the previous licence holder, COGEMA, will be investigatedin due course. Historical data from COGEMA's previous mining activitiesdemonstrates that heap leach recoveries of up to 80% are achievable for the nearsurface oxide ore using the existing plant. Douglas Chikohora, Technical Director of Cluff Gold plc, comments, "We arepleased with these drill results which have further defined some high grade,near-surface oxide ores, which we will be able to treat in our heap leachprocessing plant. We are also delighted that the drilling has served toincrease the additional oxide strike extent by at least 500 metres. A resourceupdate will be undertaken on completion of this RC programme and we expect tosignificantly add to the current resource of 190,000 ounces, as estimated by SRKlast year.'' Algy Cluff, Chairman and CEO of Cluff Gold, who visited the Angovia site in June2006, comments, "I was very heartened to see the tangible progress made on theground at Angovia which means we are in a position to shortly make a developmentdecision for this project. We were very lucky to have purchased the processingplant and infrastructure from the previous site owners, at a fraction of theirreplacement value, and this has put us considerably ahead of the game. With thisin place, we expect to be able to bring Angovia into production within six tonine months from our decision to begin construction." Qualified Person: Douglas D Chikohora has reviewed the information contained in this announcement.Douglas D Chikohora, Msc, MIMMM, CEng, is the Technical Director of the Company. For further information, please contact: Cluff Gold Numis Securities Parkgreen CommunicationsJ.G. Cluff / Douglas Chikohora John Harrison Cathy Malins / Annabel LeatherChairman / Technical Director Tel: 020 7776 1500 Tel: 020 7493 3713Tel: 020 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 534km(2). 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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