Drilling Update - Komana East
26 Março 2008 - 4:02AM
UK Regulatory
Drilling Update - Komana East
Glencar Mining plc
Drilling Update
26 March 2008
Glencar intersects significant, extensive ore zone in Komana East
drilling programme
* Significant, persistant ore grade mineralisation intersected at
Komana East over one kilometre strike length to date along the
regional Sankarani Shear Zone
* 19 metres at 4.92 grams/tonne intersected in the southernmost hole
drilled to date
* 8 metres at 3.92 grams/tonne intersected in northernmost drillhole
* 20 metres at 4.36 grams/tonne intersected in the central zone
indicating continuity of mineralization through this zone
* Mineralisation open in each direction along strike and at depth
* Main Sankarani Shear Zone extends for a further 20 kilometres to
the south within Glencar's Komana licence.
* Drilling continued at Komana West deposit and Solona targets;
update expected shortly.
Glencar Mining plc, ("Glencar" or "the Company"), the AIM and IEX
listed company with gold exploration interests in Africa, is pleased
to announce assay results from the first phase of drilling at its
Komana East target in southern Mali.
The Komana East target is approximately 7 kilometres east of
Glencar's Komana West deposit and drilling by the previous licencee,
Randgold, in the area in the 1990s had already outlined a non - JORC
compliant resource of 280,000 ounces of gold. The objective of the
current programme is to enable the completion of an ore resource
estimate for Komana East in combination with the update of the
resource estimate for Komana West following completion of the current
drilling campaign in June next.
Glencar's first borehole at Komana East was drilled in November 2007
to gain structural information relating to the projected ore zone.
This structural information was used in the design of Glencar's first
main phase of drilling at Komana East which comprises holes drilled
on a northwest-southeast axis compared to the east-west axis used by
Randgold in its drilling campaign. This phase, which is continuing,
commenced on 19 January 2008 and comprises to date of 16 holes
totaling 1,941 metres of reverse circulation drilling and 147 metres
of diamond drilling.
Twelve of the holes were drilled along the projected shear zone in
four fencelines. One additional hole (KERC137) was drilled between
fencelines. The remaining three holes were drilled on a separate
target some 800 metres to the west to test a separate geochemical
anomaly. On each of the four fencelines, one hole intersected the
mineralized structure, with consistently good gold grades over
significant widths.
The northernmost fenceline included the earlier hole KEDD126,
reported in January 2008, which intersected 8 metres at 3.92 grams/
tonne between 102 and 110 metres downhole depth.
The second fenceline, 250 metres to the south, contained hole KERC138
which showed the following intersections: 2 metres at 2.41
grams/tonne between 55 and 57 metres downhole; 15 metres at 1.86
grams/tonne between 72 and 87 metres downhole and 22 metres at 2.81
grams/tonne between 94 and 116 metres downhole depth. On this
fenceline, another hole, KWRC345, was drilled from the west side of
the projected structure to an azimuth precisely opposite that of
hole KERC138, i.e. 135 degrees, and it confirmed our geologists'
initial interpretation of a sub vertical ore zone. This hole
intersected the following mineralized intervals; 5 metres at 1.7
grams /tonne between 37 and 42 metres downhole; 4 metres at 4.95
grams/tonne between 49 and 53 metres downhole; 2 metres at 2.66
grams/tonne between 57 and 59 metres downhole; 6 metres at 5.51
grams/tonne between 62 and 68 metres downhole and 20 metres at 4.36
grams/tonne between 75 and 95 metres downhole.
The third fenceline, 200 metres further south, contained borehole
KWRC140, which intersected the mineralized structure over 12 metres
grading 2.45 grams/tonne between 112 and 124 metres downhole depth.
The fourth fenceline, 600 metres further south, included borehole
KWRC142 which intersected 19 metres at 4.92 grams/tonne between 42
and 61 metres downhole depth.
The single borehole KERC137 did not encounter significant
mineralization and further drilling at this location is planned to
test whether the hole actually penetrated through the main shear
zone.
The results obtained to date are particularly encouraging. We have
intersected consistent ore grade gold mineralization over a one
kilometre strike length and the mineralized zone is open along strike
in both directions and at depth.
We are continuing to drill along the southerly strike continuation of
the mineralized zone on fencelines 100m apart. Geological logging of
holes drilled in the past week suggests we have intersected the
mineralized structure on our next stepout fenceline, a further 100
metres to the south of those boreholes reported above.
The mineralization is contained within a brecciated, silicious
metasediment. The grades of gold seen in the mineralised zone at
Komana East are consistent and average at in excess of 3
grams/tonne. Details of the assays received for the main mineralized
intervals are given in the table below and details of the hole
locations will be published shortly on the Company's website at
www.glencarmining.ie
This is a very exciting development in Glencar's exploration of the
general Yanfolila/Sankarani region. The consistent tenor of the
mineralization encountered to date suggests a strongly mineralised
system persistent over the strike length so far drilled. The
mineralised zone seems to be particularly strong at the southern end
of the currently drilled area. The area currently being drilled
falls along the main Sankarani Shear Zone, a major, regional shear
structure which extends for a further 20 kilometres to the south
within Glencar's Komana licence.
At Komana West, drilling has continued aimed at adding to the
resource statement for that deposit. In addition we continue to
receive exploration drilling results from the Company's exploration
licence over the neighbouring Solona area. While the current assay
reporting times are still significantly longer that those achieved
during previous field seasons we anticipate having sufficient data to
be in a position to report an update on Komana West and Solona drill
programmes within the next four weeks.
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.
+-------------------------------------------------------------------+
| Fenceline | Hole | From | To | Width | Grade |
| | | m | m | m | g/t |
|--------------+-------------+---------+--------+---------+---------|
| 1 | KEDD126 | 102 | 110 | 8 | 3.92 |
|--------------+-------------+---------+--------+---------+---------|
| 1 | KEDD126 | 116 | 118 | 2 | 2.01 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KERC138 | 55 | 57 | 2 | 2.41 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KERC138 | 72 | 87 | 15 | 1.86 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KERC138 | 94 | 116 | 22 | 2.81 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD344* | 54 | 61 | 7 | 1.15 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD344* | 68 | 76 | 8 | 0.71 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD345* | 37 | 42 | 5 | 1.70 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD345* | 49 | 53 | 4 | 4.95 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD345* | 57 | 59 | 2 | 2.66 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD345* | 62 | 68 | 6 | 5.51 |
|--------------+-------------+---------+--------+---------+---------|
| 2 | KEDD345* | 75 | 95 | 20 | 4.36 |
|--------------+-------------+---------+--------+---------+---------|
| 3 | KERC140 | 112 | 124 | 12 | 2.45 |
|--------------+-------------+---------+--------+---------+---------|
| 4 | KERC142 | 42 | 61 | 19 | 4.92 |
|--------------+-------------+---------+--------+---------+---------|
| 4 | KERC143* | 20 | 22 | 2 | 4.85 |
|--------------+-------------+---------+--------+---------+---------|
| - | KERC137 | 39 | 44 | 5 | 0.75 |
|--------------+-------------+---------+--------+---------+---------|
| - | KERC137 | 57 | 62 | 5 | 0.81 |
|--------------+-------------+---------+--------+---------+---------|
| - | KERC137 | 67 | 68 | 1 | 1.30 |
|--------------+-------------+---------+--------+---------+---------|
| - | KERC145 | 6 | 7 | 1 | 1.26 |
|-------------------------------------------------------------------|
| The following drillholes did not intersect significant grades |
| above 0.5g/t: |
| |
| KERC135, KERC136, KERC139*, KERC141, KERC144*, KERC146*, |
| KERC147* |
| |
| * Holes marked with an asterisk have some assay data outstanding. |
| |
+-------------------------------------------------------------------+
Notes to Editors
Glencar is a Dublin-based exploration company with a focus on
exploration and development of gold deposits in Africa. Glencar has
found major gold deposits in Ghana, West Africa in both the 1980s and
in the 1990s. The Company has operations in Mali and Ghana in West
Africa and in Uganda in East Africa
For further information please contact:
Glencar Mining plc
Hugh McCullough, Managing Director
Kieran Harrington, Technical Director
Tel: +353 1 661 9974
e-mail: info@glencarmining.ie
Davy
Brian Corr, Associate Director
Tel: +353 1 679 6363
Bishopsgate Communications
Nick Rome/Fran Read
Tel: +44 20 7562 3350
e-mail: nick@bishopsgatecommunications.com
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