Business
Exploration Update
Exploration Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n RNS Number : 5298U Mercator Gold PLC 15 May 2008 \n \n\n\n\n\n\nMERCATOR GOLD PLC('Mercator Gold', 'Mercator' or the 'Company')\nAIM: MCR\n\n\nLondon 15 May 2008 \n \nExploration Update\n\n\nMercator Gold plc, the growing gold producer with operations in the historic Meekatharra Goldfield in Western Australia, is pleased to provide an update on its exploration activities. \n\n\n\nExploration is taking place across a range of prospects to add new reserves and resources and generate additional mining options to the producing operation at Surprise and the planned developments at Bluebird and Prohibition-Vivian-Consols.\n\n\n\n\nBest intersections from Euro prospect include 5m at 6.1g/t Au and 18m at 3.2g/t Au.\n\n\n\n\nBest intersection from drilling at Batavia prospect 8m at 20.2 g/t Au (with 2m at 72.4g/t Au).\n\n\n\n\nBest intersections from Fenian West prospect include 7m at 4.0g/t Au and 19m at 1.7g/t Au.\n\n\nExploration Strategy\n\nMercator's current exploration strategy is focused on providing additional reserves and resources to extend the current mine life of its operations beyond 2012. This mine life is based on 196,000 ounces of mineable open-pit reserves at the Surprise and Bluebird deposits, and the 308,000 ounces of underground reserves delineated to date at Prohibition-Vivian-Consols ('PVC').\n\nTo this end, Mercator is looking at a range of green and brown field options which will enable the Company not only to extend the life of its producing operations at Meekatharra, but will also provide additional grade flexibility, if required, in the nearer term. \n\nA major focus of Mercator's exploration effort is on prospects that are relatively shallow with the potential to host new open pit mining operations. Such prospects include Ascot West, Batavia, Chunderloo, Euro, Fenian West, Five Mile Well, Great Northern Highway and Rhens. Of these, Batavia, Euro and Fenian West are considered the highest priority. \n\nThe Company is also focusing its efforts on the Paddy's Flat line of lode to provide additional resources and reserves to supplement those already identi...