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Exclusivity over the Tiouit Mine & Tailings...
Exclusivity over the Tiouit Mine & Tailings....
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nAIM: KEFI \n26th July 2011\n\n KEFI Minerals Plc \n\n (\"KEFI Minerals\" or the \"Company\") \n\n EXCLUSIVITY OVER THE TIOUIT MINE AND TAILINGS RETREATMENT PROJECTS IN MOROCCO \n\n * Agreement entered into giving KEFI Minerals a period of exclusivity over\n the Tiouit Gold-Copper Mine (the \"Tiouit Mine\") and associated tailings\n retreatment project.\n \n * A non-JORC compliant report, dated February 2011, estimates the three\n tailings dams contain a total of 285,000m3 (or approximately 460,000\n tonnes) at 3 to 4g/t gold and 20 to 30g/t silver. Significant potential\n remains in the remnant ore in the underground mine.\n \nKEFI Minerals, the AIM-quoted gold and copper exploration company, announces\nthat it has been granted a period of exclusivity to carry out due diligence\ninvestigations in order to assess whether to enter into a joint venture to\ndevelop the projects at the Tiouit Mine.\n\nThe period of exclusivity was acquired by KEFI Minerals for $250,000 from the\nMoroccan company, Roche Invest SARL, (\"Roche\") and permits both parties to\nevaluate and determine if they wish to proceed to form a joint venture in order\nto develop either or both projects. The Agreement sets the framework for a\nstrategic alliance between the two companies to evaluate additional mining\nopportunities in Morocco and the African region.\n\nGold mineralisation was first discovered at Tiouit in 1946. Mining operations\nwere carried out intermittently from 1950 to 1964. Approximately 1 million\ntonnes of ore have been mined historically at Tiouit with an average recovered\ngrade of 7.9g/t gold, 67g/t silver and 0.45% copper. Approximately 720,000\ntonnes of tailings were generated by previous mining operations and stored in a\nnumber of discrete \"dry stacked\" tailings dams at surface.\n\nA non-JORC compliant Technical Report on Tiouit was completed in February 2011\nby \"Solumines\" of Canada. Solumines estimated from a total station topographic\nsurvey, with one reading per metre, that three of the tailings dams contain a\ntotal of 285,000m3 (or, at a bulk density of 1.6, approximately 460,000\ntonnes). Sampling by Solumines from 0 to 1m depths and from four drill holes\nconfirmed previous sampling (by CRM, URSTM and Met Chem - see below) results of\n3 to 4g/t gold and 20 to 30g/t silver in these three tailings dams.\nMetallurgical t...