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Maiden Resource
Maiden Resource.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6420H African Mining & Exploration PLC 24 June 2013 \n\n \n \n \n \n \nAfrican Mining & Exploration Plc ('AME' or 'the Company')\n \nMaiden Resource Confirmed at Gourbassi East Target of the Kossanto Project in Mali\n \nAfrican Mining & Exploration plc, the AIM listed gold exploration and development Company, is pleased to announce a maiden JORC Inferred Resource of 107k oz at a cut off grade of 0.5 g/t Au at the Gourbassi East target within the Kossanto Gold Project ('Kossanto' or 'the Project'), located in the prolific Kenieba Inlier in western Mali.\n \nHighlights:\n· Maiden JORC Inferred Resource identified following 2,246 metres / 28 holes reverse circulation ('RC') resource definition drilling programme, announced in February this year, which reported main mineralised intercepts located less than 100m below surface with best intercepts including:\no 75m @ 2.04 g/t Au\no 46m @ 2.16 g/t Au\no 17m @ 3.86 g/t Au\no 11m @ 6.16 g/t Au\n· Resource calculation based on part of the 500m section that was drilled within the 900m mineralised strike length which remains open at both ends, along strike and down dip\n· Planning of a potential infill and extension drilling programme is underway aimed to increase the resource with drilling along strike and down dip\n \nFollowing on from the December 2012 RC drilling programme which identified a series of mineralised intercepts, the Company contracted Wardell Armstrong International to produce a resource estimate. The conclusion of their review was that, based on the exploration work done to date, there is an Inferred Resource of 2.35 million tonnes at a grade of 1.42 g/t, giving 107k oz Au at a cut of grade of 0.5 g/t Au. The resource is calculated using mineralised intercepts from the central part, which was the most intensively drilled part, of the 500m section of the drilling at Gourbassi East. Additional drilling will be required to include the remaining part of the block into a potentially enlarged Mineral Resource.\n \nA summary of the Mineral Resource, produced in accordance with the guidelines of the JORC code (2004) and based on a selective mining unit of 2.5m x 5m x 5m, is shown in the table below. \n\n\n \n \n\n\n\n\nGourbassi East...