3rd Nov 2008 10:00
3 November 2008 AIM: GMA
GMA Resources Plc
("GMA" or "the Company")
Operations Update
Further to the recent operations update given by the Company on 21 October, GMA is pleased to announce that on 30 October, 80 tonnes of explosives were delivered to its open pit heap leach gold mine at Amesmessa. This represents the first shipment since ONEX (Office National d'Explosifs), the state owned explosives supplier in Algeria, informed ENOR spa ("ENOR") that the explosives issue would be resolved. The supplier has also indicated that another delivery of equal or greater quantity will be made before 15 November.
Douglas Perkins, Chief Executive Officer of GMA, commented:
"Even though it was a long and arduous 12 hour trip from Tamanrasset to site, it was exciting to be part of the first large convoy of explosives delivered to site. The continued supply of commercial quantities of explosives will allow the mine feed to build the operation up to commercial quantities of production. "
Enquiries:
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GMA Resources Plc |
John East & Partners Limited |
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Douglas Perkins |
Bidhi Bhoma / David Worlidge |
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+1 514 806 6788 |
+44 (0) 20 7628 2200 |
Notes to Editors:
GMA owns a controlling 52 per cent. stake in ENOR, the Algerian based operating company for the Tirek-Amesmessa project, with the remainder owned by Sonatrach, the Algerian state-owned oil and gas company.
ENOR holds the exploitation authorization to the Tirek-Amesmessa property, an area of some 1,417 km2, located approximately 450km south west of the city, Tamanrasset, in southern Algeria. Amesmessa is an open pit heap leach gold mine located in the extreme south of the permit area. The Tirek gold mine is located centrally in the northern third of the exploration permit area, some 60 km north of Amesmessa. Research to date suggests that the Zita Zone, which lies between Tirek and Amesmessa, offers considerable potential for the development of additional prospects amenable to open-pit mining. GMA Resources plans to quickly expand upon resources outside of the major 80km north/south Tirek-Amesmessa fault and other exploration targets on the property.
For further information on the Company, please visit: www.gmaresources.co.uk
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