Business
Resource update
Resource update.
About this update from Cerillion Plc
[{"type":"text","content":"\n Celtic Resources Holdings PLC\n30 May 2007\n\n\nFOR IMMEDIATE RELEASE 30th May 2007\n\n\n\n\n Celtic Resources Holdings Plc\n (\"Celtic\" or \"the Company\")\n \n Suzdal Mine Resource Update\n \n\nThe Company is pleased to announce that recent surface drilling at its 100% \nowned Suzdal gold mine in Kazakhstan has defined high grade extensions to the \nresource. In addition, underground development has increased the confidence in \nthe high grade nature and continuity of the deposit. This information \ndemonstrates the potential for the discovery of additional high grade resources \nin close proximity to the operation.\n\nAn updated independent resource estimate has also been completed for the Suzdal.\nIt utilised the new drilling and development data and has resulted in a net \nincrease of over 50,000 oz compared to the January 2006 Resource Statement. \nThis is in addition to gold produced during 2006 and the first quarter 2007.\n\nHighlights\n\n •Recently completed surface drilling confirms extensions to mineralisation\n between Orebody 1/3 and Orebody 2. Results include 12m at 17.1g/t from 246m,\n 5m at 14.7g/t from 182m\n\n •Underground development continues to confirm continuity of high grade\n lodes and a series of oblique, high grade lodes discovered by underground\n development are now part of the mine plan and Mineral Resource\n\n •The extension is within close proximity to existing underground\n development\n\n •Potential remains to define further extensions to the south west within\n an untested area in excess of 300m in length close to existing development\n\n •An updated Mineral Resource estimate demonstrates an increase of over\n 50,000 oz so far, with a substantial portion of the deposit now upgraded to\n Measured Mineral Resource\n\n •Total 1.376m oz gold Resource is made up of approximately 314,000 oz\n Measured, 502,000 oz Indicated and 559,000 oz Inferred\n\nCeltic Resources Managing Director Kevin Foo commented,\" These orebody \nextensions and discoveries are important developments which may lead to \nsignificant resource increases at Suzdal. Furthermore, the updated JORC resource\nto 5.2 Mt at 8.2g/t Au containing more than 1.37 Moz is encouraging as we now \nhave more than 388,000 tonnes at 25 g/t Au in the measured category.\"\n\nFor further information please contact:\n\nKevin Foo / Jonat...