Business
Preliminary Exploration Resul
Preliminary Exploration Resul.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n RNS Number : 1226Z African Mining & Exploration PLC 10 January 2011 \n \n\n \n \n \nAfrican Mining and Exploration plc ('AME' or the 'Company')\n \nPRELIMINARY KARAN EXPLORATION RESULTS\n \nAfrican Mining & Exploration plc, (AME), the AIM listed mining company with exploration licences in Mali, West Africa, is pleased to report the preliminary results of a sampling programme covering selective areas over some of its priority targets located in the Karan Exploration Licence (\"Karan\") and further progress for the on-going geophysical programme. \nHIGHLIGHTS\n· Rock and channel sampling confirms the presence of gold mineralisation in bedrock at \nthe Fintakourouni target\n \n· 47% of all Fintakourouni samples returned gold grades above a nominal 0.2g/t Au cut-off \ngrade\n \n· Peak gold assays for Fintakourouni were 2.39, 3.31, 8.96 and 21.5 grams per tonne gold \n(\"g/t Au\")\n \n· Waste dump and saprolite sampling over the Koukouroula and Karan targets has \noutlined a broad zone of low-grade mineralisation centred around known major \nstructures, although no bedrock was sampled in these areas\n \n· Peak gold assays for Koukouroula and Karan include 83.2, 36.6, 12.65, 9.08, 3.30 g/t Au \n \n· Ground magnetic geophysics continues to define detailed structure increasing the total \nstrike length of the planned drill target to over 15 kilometres\n\n \n\nMark Jones, Chief Executive Officer of African Mining & Exploration commented: \n\"We believe these preliminary results are very encouraging. In particular I would like to highlight the discovery of gold mineralisation of note in bedrock, the apparent presence of a broad low-grade mineralised corridor extending either side of the extensive shear and fault zones and the discovery of cross-cutting faults which offers potential for high-grade gold mineralisation. \n\"The Company intends to complete the geophysical programme together with further sampling of these and the remaining priority targets identified within the Karan Licence. We also anticipate that RC drilling should commence this month, subject to rig availability\".\nExploration Progra...