Business
Year end review of operations
Year end review of operations.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n RNS Number : 3115Y African Mining & Exploration PLC 21 December 2010 \n \n\n \n \n \n \n21st December 2010\n \nAFRICAN MINING & EXPLORATION PLC\n \nYEAR END REVIEW OF OPERATIONS\n \nAfrican Mining & Exploation plc (AME), the AIM listed company with exploration licences in Mali, West Africa, is pleased to announce the details of the letter issued to shareholders this morning outlining the year end review of operations.\n \n \nDear Shareholder\n \nAs we are approaching the end of the year, I thought it was an opportune time to update you on progress on our projects in Mali.\n \nEXPLORATION TEAM\nWe have successfully contracted an experienced exploration team to work on our Malian projects including field geologists permanently based in-country. In support of these operational activities, we have recruited an experienced Finance and Administration manager who will set up and manage group policies and procedures and take responsibility for all the commercial activities at the Company's operations in Mali.\n \nEXPLORATION PROGRAMMES\nWe informed shareholders in an announcement on November 24th that we had signed contracts with exploration services providers for the geophysics, drilling and assaying programmes. We must now ensure that we have the infrastructure in place to facilitate the on-going sampling programmes and a Phase One drilling contract scheduled to commence at the end of January, 2011.\n \nWe are currently finalising the design of additions to our field office on the Karan Licence. This will include a core yard for the management and storage of drill samples, and it will provide basic accommodation for contractors.\n \nThe geophysical ground magnetic survey being conducted over the Karan Licence is progressing well and to date approximately 185 of the total contracted 472 line kilometres of survey have been completed. A preliminary review of the results from the first few lines surveyed is encouraging and we remain confident that the survey will achieve its objective of generating a host of targets for drilling early in 2011. Evidence is emerging of a high density of structures which appear to be largely coincident with both past and present artisanal workings as well as new structures previously undetected.\n \nSa...