Business
Drilling Results
Drilling Results.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n \n\n\n\n\n METALS EXPLORATION PLC\n\n11 July 2007\n\n POSITIVE METALLURGICAL AND INFILL DRILLING RESULTS\n AT RUNRUNO PROJECT\n\n\nThe Board of Metals Exploration PLC (\"the Company\") (AIM: MTL), the\nUK based precious and base metals exploration company focused in the\nPacific Rim Region is pleased to report that the Company continues to\nreceive encouraging results from the current infill drilling\nprogramme and the metallurgical testwork being conducted on its\nRunruno gold-molybdenum deposit.\n\nKEY HIGHLIGHTS:\n\n * Positive infill drilling results add to confidence of Runruno\n resource model.\n * Overall gold recovery of 94.7% from pressure oxidation (POX)\n metallurgical tests.\n * 48 drill-holes drilled since March for a total of 7,260 metres.\n * Assay results from 33 drill-holes still due.\n * Potential economic recovery of some molybdenum.\n * On target for resource update in September 2007.\n\nCommenting on the results, Jonathan Beardsworth, CEO of Metals\nExploration plc said:\n\n\"These results are extremely encouraging, and should provide\ninvestors with evidence that considerable work has been completed at\nRunruno in the last few months. The drilling is confirming the\npotential of the resource, and the metallurgical test results\ndemonstrate that we have a viable process route to producing gold\nwith high recovery values, as well as, possibly, molybdenum credits.\n\n\"Scoping studies will now run in parallel with continuing testwork in\norder to expand our understanding of likely economics.\n\n\"The programme is progressing on time and on budget, and the results\nachieved to date reinforce our confidence of being able to meet our\ntarget of a resource update by the end of the third quarter.\"\n\nJonathan Beardsworth\nChief Executive Officer\n\n\n\nRUNRUNO PROJECT\n\n\nResource Definition - Drilling\n\nSince the last announcement of drilling results in March, the Company\nhas been carrying out an intensive programme of combined Reverse\nCirculation (RC) and diamond drilling with the intention of upgrading\nthe current inferred resource to inferred, indicated and possibly\nmeasured status by the end of September this year.\n\nSince March and up to the end of June, a total of 48 drill-holes\n(MXD56-MXRC103) have been completed for a total of 7,260 metres.\nEleven (11) diamond drill-holes were completed during...