Drilling Update
10 Julho 2007 - 4:01AM
UK Regulatory
Drilling Update
Glencar Mining plc
Komana West Project
Drilling Update
10 July 2007
Highlights
- - 12,500 metres of drilling has now been completed at Komana West
- - Main mineralised zone confirmed at shallow depths
- - In KWRC089, the last 9 metres of the hole show a grade of 2.58
grams/tonne
- - Mineral resource estimation underway
Glencar Mining plc ("Glencar" or "the Company"), the AIM and IEX
listed company with gold exploration interests in Africa, is pleased
to report on additional drilling results from its Komana West project
in southern Mali. The assay results referred to in this statement
relate to the final seven boreholes completed at Komana West prior to
the onset of rains in early June and the suspension of drilling
activities there.
12,500 metres of drilling has now been completed at Komana West,
9,886 metres of it reverse circulation drilling and 2,614 metres of
diamond drilling.
The boreholes reported here were designed to cut the northern portion
of the main mineralised zone at shallow depths where the deposit is
being exploited by artisanal miners. Two of the drillholes, KWRC089
and KWRC093 encountered voids, probably representing areas where the
artisanal miners had excavated gold bearing material.
The main mineralised intersections and the associated voids in the
drill returns are given in the table below.
Hole ID From To Width Au (g/t)
(m) (m) (m)
KWDD089 7 8 1 void
32 33 1 void
38 47 9 void
49 56 7 1.04
117 126 9 2.58
KWDD 090 33 40 7 2.41
KWDD 092 32 39 7 2.76
43 47 4 1.32
55 64 9 3.44
69 73 4 0.99
KWDD093 1 2 1 6.23
3 5 2 void
8 22 14 1.66
18 19 1 void
22 23 1 void
39 40 1 3.06
43 45 2 2.46
It is interesting to note that in KWRC089, the last 9 metres of the
hole show a grade of 2.58 grams/tonne in an intensely altered zone
with associated porphyry intrusive material. This hole was drilled
to a final depth of 126 metres to test for a possible extension to
the mineralised zone. Further testing of this potentially new
mineralised zone will be carried out during the next drilling season.
Holes KWRC094 and KWRC058 did not encounter significant
mineralization. Due to the breakdown of the drill at the end of the
programme, one of the planned holes, KWRC091 could not be completed
beyond 6 metres depth.
SRK Consultants have recently visited the site at Komana West in the
course of their resource study on the currently drilled mineralised
zone. The results of this study are expected to be available by
September next.
Commenting on the latest results, Glencar's Managing Director, Mr.
Hugh McCullough said,
"We drilled these seven holes at this time to provide important
geological data for resource estimation purposes. This area is one
of intense artisanal activity which inevitably leads to incomplete
sample return when drilling at shallow depths. We are confident,
however, that the voids represent areas of relatively high grade gold
mineralization and consequently we believe that these latest holes
confirm the presence, at shallow depths, of the main mineralised zone
which has been intersected in the deeper holes at these locations."
A drillplan showing the drillholes described above will be posted
shortly on the Company's website at www.glencarmining.ie
Hugh McCullough, EurGeol., PGeo, Managing Director of Glencar, is a
member of the Institute of Geologists of Ireland. He is a qualified
person as defined in the Guidance Note for Mining, Oil and Gas
Companies, March 2006, of the London Stock Exchange. He has reviewed
and approved the technical information contained in this
announcement.
For further information please contact:
Glencar Mining plc
Hugh McCullough, Managing Director
Tel: +353 1 661 9974
e-mail: info@glencarmining.ie
Davy
Brian Corr, Associate Director
Tel: +353 1 679 6363
Heneghan PR
Rachel Watchorn
Tel: +353 1 6607395
e-mail: rachel@hpr.ie
Bishopsgate Communications
Nick Rome/Fran Read
Tel: +44 20 7562 3350
e-mail: nick@bishopsgatecommunications.com
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