9th Jun 2005 07:00
Cluff Gold PLC09 June 2005 9th June 2005 AIM: CLF CLUFF GOLD PLC Update on Angovia gold project in Cote d'Ivoire Cluff Gold Plc ("Cluff" or "the Company") today announces that it has concludedan assessment of the resource potential of the Angovia gold project at their534km(2) Mt Yaoure Licence in Cote d'Ivoire. This assessment was based on anexploration database that Cluff purchased from the previous license holder,COMINOR, a subsidiary of COGEMA, the French uranium mining group. In total,this database contains geological and assay data for over 100 drillholes and 50trenches. The assessment work, which was undertaken by SRK Consulting ("SRK"), comprisedgeological and grade modelling and also pit optimisation work to confirm thepotential economics of exploiting the modelled mineralisation. Based on thepositive outcome of this work, SRK has recommended the completion of a small1,500m Reverse Circulation drilling programme to verify the quality of theexisting data and also infill some gaps in the drilling grid. It is planned toundertake this work by September 2005, when a rig is expected to be available.This programme has been designed to enable the preparation of an IndicatedMineral Resource as defined by the JORC Code. SRK has estimated the drilledareas to have the potential to contain a resource in the order of 9 to 10million tonnes at a grade of between 0.8 and 0.9 g/t (300,000 ounces). Based on the above work and previous reviews of the exploration potential, plantand infrastructure, the Company has agreed in principle to acquire most of theoxide plant on site from the Government of Cote d'Ivoire. This plant operatedfor five years until 2003, producing up to 40,000 ounces of gold per annum. Itis the Company's view that similar levels of production can be achieved withinnine to twelve months of project funding. The Company has engaged the services of Ciaran Molloy, Associate Director ofEngineering, AMEC UK, who has been seconded to Cluff as Group Projects Managerand who will be responsible for progressing the Angovia Project, as well asproviding engineering back up to the Group's other projects in West Africa. MrMolloy brings further broad technical expertise to the Company, having worked onthe engineering and development of mines, predominantly in Africa, for over 25years. Mr. Douglas Chikohora, Technical Director of Cluff Gold plc, comments, "We arepleased with SRK's findings which are almost three times better than those wepublished at the time of the data purchase. We are also delighted to be workingwith someone of Ciaran's knowledge and experience and look forward to updatingthe market with our progress in the near future." For further information, please contact: Cluff Gold Numis Securities Parkgreen CommunicationsJ.G. Cluff / John Harrison Justine Howarth / Douglas Chikohora Cathy MalinsChairman / Technical Director Tel: 020 7776 1500 Tel: 020 7493 3713Tel: 020 7340 9790 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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