20th Aug 2008 09:24
20 August 2008
AIM: GMA
GMA Resources Plc
("GMA" or "the Company")
Production update
GMA announces production at Amesmessa for the months of June and July.
Production for the two months was as follows:
June was 1,303 ounces of gold and 164 ounces of silver.
July was 1,974 ounces of gold and 488 ounces of silver.
To store larger inventory levels of explosive, the Company has built a 300 tonne explosives magazine at Amesmessa which was completed and inspected on 30 June 2008. The Company expects to obtain government approval to use this facility in the very near future.
Douglas Perkins, Chief Executive Officer of GMA, commented:
"Results during this period show how important the supply of explosives is to production at this mine. We continue to work with the Ministry of Energy & Mines personnel to address continued supply of explosives to the mine.
I am very encouraged by the leaching characteristics of the ore which appears to be at least as good as were forecast in tests before the decision was made to go the heap leach process route."
This announcement, as it relates to production, has been reviewed and approved by Jean Paul Bout MSc. of the Company who is a qualified person for the purposes of the Guidance Note for Mining, Oil and Gas Companies for AIM companies issued by London Stock Exchange plc.
Enquiries:
|
GMA Resources Plc |
John East & Partners Limited |
|
Douglas Perkins |
Bidhi Bhoma / David Worlidge |
|
+1 514 806 6788 |
+44 (0) 20 7628 2200 |
Notes to Editors:
GMA owns a controlling 52 per cent. stake in ENOR spa ("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.
For further information on the Company, please visit: www.gmaresources.co.uk
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