1st May 2008 08:56
Norseman Gold PLC01 May 2008 Norseman Gold plc / Epic: NGL / Index: AIM / Sector: Mining & Exploration NORSEMAN GOLD PLC ("Norseman Gold" or the "Company") Preliminary Regional Exploration Drilling Results Norseman Gold, the AIM listed Australian gold production company, is pleased toannounce preliminary results from its recent exploration activities. Theactivities have been targeting prospects that have the short term potential toprovide mill feed to the Company's Norseman Operations as a third mine. The results, whilst preliminary, clearly demonstrate the potential of theCompany's prospects in close proximity to the treatment plant. It is anticipatedthat following receipt of the outstanding assay results and analysis by theCompany's personnel, further updates will be forthcoming. Lady Miller North A 33 hole Reverse Circulation ("RC") programme has been completed to test 800mof northern strike extent of mineralisation from the previously mined LadyMiller open pit, which has a current resource of 480,000t @ 2.7g/t gold. Theholes were completed on 30-50m line spacing. Assays have now been received fromthe first four holes of the programme with the results listed below: • 5 m @ 1.2 g/t gold from 25.0m in drill-hole LMRC010 • 21 m @ 2.4 g/t gold from 107.0m in drill-hole LMRC012 including 10 m @4.2 g/t gold from 107.0m The result of drill-hole LMRC010 is particularly pleasing as it provides furtherconfidence that mineralisation mined in the Lady Miller pit strikes at least150m further north. Intersections from previous drilling include: • 17.0m @ 5.86 g/t gold • 2.0m @ 3.15 g/t gold • 3.6m @ 2.83 g/t gold • 8.1m @ 2.79 g/t gold The historic drill-hole LM15, located approximately 50m north of the pit alsointersects mineralisation (8m @ 2.8 g/t gold from 62m). Further assays areexpected for the remainder of the programme shortly and once received will beanalysed by the Company's exploration geologists. Mararoa North A 29 hole RC programme has been completed to test a 1.2km strike extent of theMararoa Reef close to the surface (within 100m of ground surface). Assays havenow been received from the first hole of the programme with the result listedbelow: • 2 m @ 6.3 g/t gold from 56.0m in drill-hole S4563P This initial result is pleasing as it confirms the presence of untestednear-surface reef, as targeted. Further assays are expected for the remainder ofthe programme shortly and once received will be analysed by the Company'sexploration geologists. Slippers A 23 hole RC programme has been completed to test the extent of the near-surfacemineralisation to the south of the North Royal area at the Slippers Prospect.North Royal has a current resource of 530,000t @ 4.3 g/t gold. Assays have nowbeen received for all holes in the programme with significant results listedbelow: • 4 m @ 1.8 g/t gold from 86.0m in drill-hole SLRC030 • 10 m @ 3.8 g/t gold from 50.0m in drill-hole SLRC035 • 10 m @ 2.0 g/t gold from 65.0m in drill-hole SLRC040 • 4 m @ 10.3 g/t gold from 65.0m in drill-hole SLRC041 The results are currently being integrated into ongoing resource assessment foranalysis and to determine the extent of further work required. Groundlark A 6 hole RC programme has been completed to test the extent of the near-surfacemineralisation adjacent to the Mararoa Reef. Assays have now been received fromall holes in the programme with significant results listed below: • 5 m @ 1.5 g/t gold from 25.0m in drill-hole S4556P • 6 m @ 1.2 g/t gold from 30.0m in drill-hole S4561P The results are currently being integrated into ongoing resource assessment. Competent Persons - Consent for Release The information in this report that relates to Exploration Results, MineralResources and Ore Reserves is based on data generated by employees of CentralNorseman Gold Corporation Limited (a wholly owned subsidiary of Norseman Gold)who have the relevant experience and qualifications to qualify as competentpersons. The parts of this report that relate to Exploration Results, Mineral Resourcesand Ore Reserves were compiled by Barry Cahill using that data. He is a Memberof the Australasian Institute of Mining and Metallurgy and has sufficientexperience which is relevant to the style of mineralisation and type of depositunder consideration and to the activity which they are undertaking to qualify asa Competent Person as defined in the 2004 Edition of the "Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves". He hasconsented to the inclusion in the report of the matters based on thisinformation in the form and context in which it appears. Forward-Looking Statements. This regulatory news release contains certain forward looking statements, whichinclude assumptions with respect to future plans, results and capitalexpenditures. The reader is cautioned that assumptions used in the preparationof such information may prove to be incorrect. All such forward lookingstatements involve substantial known and unknown risks and uncertainties,certain of which are beyond the Company's control. Please refer to the Company'sAdmission Document available from the Company's web site for a list of riskfactors. The Company's actual results could differ materially from thoseexpressed in, or implied by, these forward-looking statements and, accordingly,no assurances can be given that any of the events anticipated by theforward-looking statements will transpire or occur, or if any of them do so,what benefits the Company will derive therefrom. All subsequent forward-lookingstatements, whether written or oral, attributable to the Company or personsacting on its behalf are expressly qualified in their entirety by thesecautionary statements. Furthermore, the forward-looking statements contained inthis news release are made as at the date of this news release. * * ENDS * * For further information visit www.norsemangoldplc.com or contact: David Steinepreis Norseman Gold Plc Tel: 44 7913 402 727Guy Wilkes Ocean Equities Ltd Tel: 020 7786 4370Olly Cairns Blue Oar Securities Plc Tel: +61(0) 86430 1631Romil Patel Blue Oar Securities Plc Tel: 020 7448 4400Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7236 1177Victoria Thomas St Brides Media & Finance Ltd Tel: 020 7236 1177 Note to editors: Norseman Gold plc is an AIM listed Australian gold production company, whichacquired the Norseman Gold Project in May 2007, Australia's longest continuallyrunning gold operation. The Norseman Gold Project is located in the EasternGoldfields of Western Australia in the highly prospective Norseman-Wilunagreenstone belt, 725km east of Perth and 186km from Kalgoorlie. Gold was first found on the Norseman field in 1894 and over the last 65 years ithas produced over 5.5 million ounces of gold. The mine is currently producingfrom two high-grade narrow-vein underground mines - the Bullen and theHarlequin. Currently, it has a total resource inventory of 1.9 million ouncesof gold at an average grade of 4.1 g/t. The tenements cover a 687 sq km area centred on the Norseman Township. Thelandholding comprises 146 contiguous tenements consisting of 10 ExplorationLicences, 102 Mining Licences, 20 Prospecting Licences, 14 MiscellaneousLicences and 29 Mining Lease Applications. The Company's strategy is focused on extending the mine life through theconversion of resources into reserves and identifying additional resources andobtaining additional ore for the operating mill through re-treatment of tailingsor acquisitions of alternative sources of ore. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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