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Drilling Update & Senior Management Appointment

31st Aug 2011 07:00

RNS Number : 2600N
Sovereign Mines of Africa PLC
31 August 2011
 



 

31 August 2011

 

Sovereign Mines of Africa Plc

 ("the Company")

 

Drilling Update & Senior Management Appointment

 

On 4 July the Company announced that a diamond drilling programme had commenced at its Mandiana Magana gold exploration property in the Republic of Guinea, which was expected to complete by the end of September.

 

Diamond drilling is possible during the rainy season in this area, but weather conditions this month have been so severe, that it has been decided to discontinue the programme until conditions improve. The seasonal rains have so far proved to be the worst seen in some 20 years and it is not now expected that drilling will recommence until October.

 

This delay does not in any way diminish the confidence that the Directors have in this outstandingly prospective property and the Company has the resources to deal with any financial implications, which are not, in any event, considered to be material.

 

The Company is also pleased to announce the appointment of Glenn Kendrick to head up the exploration team in Guinea as Country Manager.

 

Glenn has a wide experience and proven track record of managing and developing exploration programmes, for a number of public companies, including de Beers and BHP Diamonds. His technical knowledge of mining and geology learned through nearly 30 years of management experience in Africa, including Guinea, will be invaluable to the Company.

 

Ends

 

Enquiries:

 

SOVEREIGN MINES OF AFRICA PLC

David Pearl, F.C.A. - Chairman

+ 353 696 8961

[email protected]

 

RIVINGTON STREET - CORPORATE FINANCE, JOINT BROKER

Jon Levinson - Corporate Broking

+44 20 7562 3357

 

SHORE CAPITAL - NOMINATED ADVISER & BROKER

Andrew Raca/Toby Gibbs - Corporate Finance

+44 20 7408 4090

 

SQUARE1 CONSULTING LIMITED

David Bick/Mark Longson

+44 207 929 5599

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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