27th Sep 2007 07:01
Carnegie Minerals plc27 September 2007 27 September 2007 Carnegie Minerals Plc ("Carnegie" or the "Company") Interim Drilling Results Southern Senegal Carnegie Minerals Plc (AIM - CME), the mineral sands resource company withproduction interests in The Gambia and advanced exploration in adjoiningSenegal, is pleased to announce that it has received results from heavy mineral(HM) drilling analysis of 718 drill samples from 3 drilling lines (1, 2 and 8).These lines represent 1,311 line metres of drilling or 34% of the southern areaof the licence and 16% of the total 8,000 line metres of drilling undertakenover both the southern and northern areas. Highlights * Exploration drilling intersects mineralised zone in previously untested area * Mineralised intersections thicker than previously encountered in the project area * 84% of drilling results still to be processed The results received to date revealed a mineralised zone that was intersectedover a distance of 330 m by Line 1 across one of the high dune areas thatstretches parallel to the coast for about 2.3 km. The mineralised zone wasintersected by 10 holes from the surface to an average depth of 12.5 m and theindividual air-core drill holes sampled at 1.5 metre intervals showed a weightedaverage grade from 2.1% to 4.7% total heavy minerals (average 3.4% HM) with theaverage slime content varying from 5 to 20 % (average 14%). In the central part of this zone its thickness was 18 m at a weighted averagegrade of 3.5% HM (including surface 4.5 m interval at 8% HM). The intersectedmineralised zone coincides with an airborne radiometric anomaly as well as anextensive linear magnetic feature extending parallel to the coast. The edge ofthis zone was also intersected from the surface to the depth of 12 m by twodrill holes at Line 2 where the weighted average HM grade was about 2.5%. Somesurface HM accumulations have also been intersected by Line 8 in a low dune area(up to 3 m thick at 5.1% HM). Alan Hopkins, Managing Director of Carnegie Minerals plc, said: "The heavy mineral intersections in this previously untested southern part ofthe tenement are encouraging and we look forward to receiving the results forthe remaining drilling samples. "This latest set of test results provide further evidence of the prospectivityof the southern Senegal region, following the successful exploration of theNiafarang area, at which production is planned for early 2009." - Ends - For further information, call: Alan G Hopkins, Managing Director, Carnegie Minerals 020 7831 3113Plc Romil Patel / Olly Cairns, Blue Oar Securities Plc 020 7448 4400Billy Clegg/Edward Westropp, Financial Dynamics 020 7831 3113 Notes to editors: Carnegie only listed on AIM in August 2006. It has already brought into fullproduction four dredges and is on track to meet its 2007 production targets inThe Gambia. It has drilled a deposit at Niafarang in Senegal and announced amining reserve. It has also completed a high resolution airborne geophysicalsurvey over the Southern Senegal licence area, generating a number of newexploration targets, the drilling of which are now being reported on as theycame to hand. All exploration in Senegal is 50% co funded by Astron Ltd (the largestindependent buyer of zircon in China), with the emerging production in TheGambia fully funded by Astron Ltd (a 50% partner in each project). Competent Person: This drilling update is based on information compiled by Dr Boris Matveev who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Boris Matveev has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the JORC Code 2004. Dr Boris Matveev consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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