Business
JORC Resource Update
JORC Resource Update.
About this update from Kefi Gold And Copper Plc
[{"type":"text","content":"\n \nAIM: KEFI\n\n18 September 2013\n\n KEFI Minerals Plc \n\n (\"KEFI Minerals\" or the \"Company\") \n\n Increased jorc resource \n\n Exploration UPDATE \n\nKEFI Minerals, the AIM-quoted gold and copper exploration company with projects\nin the Kingdom of Saudi Arabia, is pleased to announce an updated JORC\ncompliant Inferred Resource of 14.5Mt at 0.89g/t Au for 415,000oz Au at its\nJibal Qutman prospect.\n\nThe Company's ongoing trench channel sampling and drilling programme at the\nJibal Qutman Licence continues to expand the mineralised system, which is yet\nto be closed off. Kefi Minerals is the operator of the project under the\nCompany's 40%-owned Gold & Minerals Joint Venture (\"G&M\").\n\nHIGHLIGHTS\n\n * A 33% increase in the JORC compliant Inferred Resource to 14.5Mt at 0.89g/t\n Au for 415,000oz Au has been calculated at a cut-off of 0.2g/t Au.\n \n * The 3K Hill prospect discovered in June 2013 provided significant\n contribution to the upgrade;\n \n * The second phase RC drilling programme is on-going with mineralisation\n remaining open along strike at the Main, South, West and 3K Hill Zones.\n Drilling aims to extend the resource, and continues returning encouraging\n intersections, including: 9m at 14.20g/t Au, 25m at 1.25g/t Au, 10m at\n 2.18g/t Au, 9m at 1.36g/t Au and 8m at 1.01g/t Au.;\n \n * Trench channel sampling over a newly discovered set of shear zone-hosted\n quartz bodies at 4K Hill returned encouraging intersections, including 8m\n at 1.03g/t Au, 12m at 1.37g/t Au and 1m at 28.31g/t Au;\n \n * A Diamond Drill Hole programme to deliver samples and progress\n metallurgical testwork has been initiated.\n \nJeff Rayner, ManagingDirector of KEFI Minerals, commented:\n\n\"The results of the on-going RC drilling and trenching at Jibal Qutman continue\nto increase the size of the mineralised system. We are very excited about the\npotential to develop a significant resource in the region and once more the\ndrilling results have vindicated our team's efforts.\n\n\"Our drilling is continuing to find more gold and we have yet to close off the\nmineralisation along strike of any of the drilled areas. Additional drilling\ncapacity is being sought to step up the work rate at Jibal Qutman with the\ncontinued focus on moving towards a pre-feasibility study. We look forward to\nfurther developing our drilli...