5th May 2005 11:00
Randgold Resources Ld05 May 2005 Randgold Resources Limited Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD RANDGOLD RESOURCES PLANS FIRST 1 000-METRE HOLE AT LOULO AS YALEA DRILLS DEEPER London, 5 May 2005 (LSE:RRS)(NASDAQ:GOLD) - Results from the latest phase ofdrilling at Randgold Resources' Loulo project have confirmed the presence of ahigh-grade payshoot of significant size at depth at the Yalea orebody. A newround of deeper drilling, designed to establish the depth extent of the orebody,will soon start. "We have now confirmed the continuation of mineralisation down to 780 metresbelow surface, making this to our knowledge the deepest mineralised intercept inWest Africa outside Ghana," said Rod Quick, mineral resource manager at Loulo. "The deep drilling has posed a few technical challenges and we've had to upgradeour drilling techniques to control the deflection of the boreholes. However,with good cooperation from our contractors Boart Longyear we are making steadyprogress with the deep boreholes. Preliminary results from these deep holeshave demonstrated that the Yalea structure is still open at depth and we willsoon be planning our first 1 000-metre hole." SRK, who are leading the underground development study at Loulo, are meanwhileintegrating the geotechnical, geothermal and geohydrological data gathered fromthese boreholes and are well on track to finish the study by the end of thesecond quarter. RANDGOLD RESOURCES ENQUIRIES: Chief Executive - Dr Mark Bristow +44 779 775 2288 Financial Director - Roger Williams +44 791 709 8939 Investor & Media Relations - Kathy du Plessis +27 11 728 4701, Cell: +27 (0) 83 266 5847, Email: [email protected] Website: www.randgoldresources.com DISCLAIMER: Statements made in this document with respect to Randgold Resources'current plans, estimates, strategies and beliefs and other statements that arenot historical facts are forward looking statements about the future performanceof Randgold Resources. These statements are based on management's assumptionsand beliefs in light of the information currently available to it. RandgoldResources cautions you that a number of important risks and uncertainties couldcause actual results to differ materially from those discussed in theforward-looking statements, and therefore you should not place undue reliance onthem. The potential risks and uncertainties include, among others, risksassociated with: fluctuations in the market price of gold, gold production atMorila, the development of Loulo and estimates of resources, reserves and minelife. For a discussion on such risk factors, refer to the annual report on Form20-F for the year ended 31 December 2003, which was filed with the United StatesSecurities and Exchange Commission (the 'SEC') on 30 June 2004. RandgoldResources assumes no obligation to update information in this release.Cautionary Note to US Investors: The SEC permits companies, in their filingswith the SEC, to disclose only proven and probable ore reserves. We use certainterms in this release, such as "resources", that the SEC does not recognise andstrictly prohibits us from including in our filings with the SEC. Investors arecautioned not to assume that all or any part of our resources will ever beconverted into reserves which qualify as 'proven and probable reserves' for thepurposes of the SEC's industry guide number 7. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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