Business
Drilling Update
Drilling Update.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9691G African Mining & Exploration PLC 20 May 2011 \n \n\nAFRICAN MINING AND EXPLORATION plc\n('AME' or 'the Company')\nDRILLING UPDATE - KARAN LICENCE, MALI\n \nAfrican Mining & Exploration plc (AIM: AME), the AIM listed gold exploration company operating in Mali, West Africa, announces the findings of its initial Drilling Programme.\nHighlights\n12,269 metre Reverse Circulation ('RC') drill programme completed over four target areas within the Karan Licence;\n \nDrilling targeted four prospects delineated by geochemical and geophysical data;\n \nApproximately 2.9 km of the 25km structure drilled ;\n \nEvidence of pervasive gold mineralisation discovered, associated with 3 of the 4 main targets;\n \nSignificant mineralisation found associated with quartz veining and porphyritic intrusions with dispersed low-grade halos;\n \nPeak intersections include 1 metre ('m') at 11.75 grams per tonne gold ('g/t Au'), 1m at 8.62g/t Au, 1m at 5.88g/t Au, 1m at 4.73g/t Au and 2m at 3.90g/t Au.\n \nLarge low grade intersections include 39m at 0.21g/t and 101m at 0.11 g/t.\n \nFurther exploration drilling required to follow up mineralised structural targets within the Karan Licence;\n \nScreened fire assay to be completed on representative mineralised holes to detect for the presence of coarse grained gold\n \nMark Jones, Chief Executive Officer comments ''Gold mineralisation has been found on all four prospects and we are encouraged by the structures associated with the mineralisation in the host rocks indicating the presence of gold in the system. These structures are consistent with what is found elsewhere in Mali in similar terrain. Exploration remains at an early stage and the next phase aims to improve our understanding of the structures controlling mineralisation and thereby refine the next round of drilling to intersect higher grade intercepts which it is assumed are currently reflected in the larger low-grade gold halos that have been intersected''.\n \nFor further information, please contact: \n\n\n\n\nAfrican Mining & Exploration plc\n\n\n+44 (0)207 499 4059\n\n\n\n\nMark Jones (Chief Executive Officer)\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\nSinger Capit...