7th Apr 2009 10:27
7 April 2009 AIM: GMA
GMA Resources Plc
("GMA" or "the Company")
Record Production in March 2009
GMA announces that in March 2009, the Amesmessa Gold Mine in Algeria produced 3,401 ounces of gold and 654 ounces of silver. This is the highest monthly gold production the mine has ever produced. The mine produced a total of 9,829 ounces of gold in the first quarter of 2009, compared with 5,292 ounces in the fourth quarter of 2008.
Douglas Perkins, Chief Executive Officer of GMA, commented:
"As previously announced, we will continue to report production on a monthly basis during Q2 2009 to keep shareholders informed of production on a timely basis. We are pleased with the 86 per cent. increase in gold production from Q4 2008 to Q1 2009 and anticipate that Q2 2009 will show another quarterly increase over Q1 2009."
Enquiries:
|
GMA Resources Plc Douglas Perkins |
Tel: +1 514 806 6788 |
|
John East & Partners Limited Bidhi Bhoma |
Tel: +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 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 of 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 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 plans to expand upon resources outside of the major 80km north/south Tirek-Amesmessa fault and other exploration targets on the property.
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