Business
Drilling Update
Drilling Update.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n Metals Exploration PLC\n03 October 2007\n\n3 October 2007\n\n\n METALS EXPLORATION PLC\n\n METALS EXPLORATION DRILLING CAMPAIGN COMPLETED ON SCHEDULE\n\n\n\n\nRUNRUNO PROJECT\n\n\n\n • Drilling campaign completed on schedule\n • Results from over 2,000 samples awaited from the assay laboratories\n • Results received to date encouraging - modeling and resource estimation\n under way\n • Resource update imminent once all results received\n\n\n\nThe Board of Metals Exploration PLC ('the Company') (AIM: MTL), the UK based\nprecious and base metals exploration company focused in the Pacific Rim Region\nis pleased to report that the current drilling campaign has been completed on\nschedule at its flagship Runruno Project in the Philippines.\n\nThe infill drilling programme, comprising some 41 drill-holes for a total of\n5,888 metres since the last announcement of drilling results on 11 July 2007,\nhas been completed on schedule. As assay results are received the resource\nmodel is being updated. Due to the backlog of samples at the laboratories where\nresults from 2,458 samples are still awaited it will not be possible to release\na resource update this week as planned. The Company is advised that it should\nbe in a position to release by the end of this month.\n\n\nJonathan Beardsworth, CEO of Metals Exploration plc said:\n\n'I congratulate our people on completing the planned drilling programme on\nschedule. However we can not influence the backlog that exists in the\nlaboratories, which is a worldwide problem at this time in the industry. As\nsoon as the results are received a resource update will be released.'\n\n\n\nJonathan Beardsworth\n\nChief Executive Officer\n\n\nQUALIFIED/COMPETENT PERSONS\n\n\nGary Powell (a Director of the Company) has been involved in the mining and\nexploration industry for more than 24 years. He has a Bachelor of Applied\nScience degree in geology and is a member of the Australasian Institute of\nMining and Metallurgy and the Australasian Institute of Geoscientists. He has\ncompiled, read and approved the technical disclosure in this regulatory\nannouncement.\n\n\n\nFor more information:\n\n\n\nJonathan Beardsworth + 44 (0) 20 7927 6690\nCEO + 44 (0) 7747 101 552\n\nJonathan Anderson + 44 (0) 20 7927 6690\nInvestor Relations + 44 (0)7950 410 680\n\nAdrian Hadden + 44 (0) 20 7523 8350\nCollin...