Amara Mining PLC Yaoure NI 43-101 Technical Report (5390J)
April 08 2015 - 1:00AM
UK Regulatory
TIDMAMA
RNS Number : 5390J
Amara Mining PLC
08 April 2015
08 April 2015 AIM:AMA
Amara Mining plc
("Amara" or "the Company")
PUBLICATION OF TECHNICAL REPORT FOR 6.8 MILLION OUNCE MINERAL
RESOURCE AT
YAOURE GOLD PROJECT
Amara Mining plc, the AIM-listed West African focused gold
mining company, is pleased to announce that a National Instrument
43-101-compliant technical report entitled 'Yaoure Gold Project,
Côte d'Ivoire, Technical Report and Mineral Resource Estimates for
Amara Mining Côte d'Ivoire SARL', with an effective date of 05
January 2015, was published on its website yesterday. This follows
the news release regarding the Mineral Resource update for the
Yaoure Gold Project ("Yaoure") in Côte d'Ivoire dated 06 January
2015.
A copy of the technical report may be obtained on Amara's
website at
http://www.amaramining.com/Investor-Relations/NI43-101-Reports. A
copy of the news release may also be obtained on Amara's
website.
The previously announced highlights of the Yaoure Mineral
Resource update are as follows:
HIGHLIGHTS
-- Total Mineral Resources at Yaoure of 6.8 million ounces(1) :
4.4 million ounces Indicated (106.3Mt at 1.29g/t) and 2.4 million
ounces Inferred (63.0Mt at 1.19g/t)
o 65% of Yaoure's Mineral Resources are in the higher confidence
Indicated category, de-risking the deposit
o Yaoure is the largest gold development project in West Africa
by Mineral Resource
o Amara's total Mineral Resources are 9.6 million ounces - the
largest resource base of any London-listed junior miner(2)
-- 1.7 million ounce (63%) increase in higher confidence
Indicated Mineral Resources compared to the Mineral Resource update
announced on 29 September 2014
-- Higher grade Indicated Mineral Resources contained within
US$950 and US$800 per ounce pit shells
o US$950/oz pit shell contains 3.1 million ounces (64.8Mt at
1.48g/t) in the Indicated category, a 32% increase compared to the
September resource update
o US$800/oz pit shell contains 2.6 million ounces (50.7Mt at
1.57g/t) in the Indicated category, a 44% increase compared to the
September resource update
-- Further exploration upside as the deposit remains open along
strike with indications of additional gold in parallel structures
to the West (towards surface), as well as the opportunity to
convert further Inferred Mineral Resources to the Measured and
Indicated categories
Notes
1. Based on a pit optimisation using a US$1,500 gold price, and
reported at a 0.5g/t cut-off. Compared to the 6.3 million ounce
Mineral Resource (62.0Mt at 1.36g/t for 2.7 million ounces
Indicated and 86.6Mt at 1.30g/t for 3.6 million ounces Inferred)
with an effective date of 23 September 2014.
2. A junior miner is defined here as an explorer/developer or a
producer with projected FY2014 production of less than 200,000
ounces.
For more information please contact:
Amara Mining plc
John McGloin, Chairman
Pete Gardner, Finance Director
Katharine Sutton, Head of Investor +44 (0)20 7398
Relations 1420
Peel Hunt LLP
(Nominated Adviser & Joint Broker)
Matthew Armitt +44 (0)20 7418
Ross Allister 8900
GMP Securities Europe LLP
(Joint Broker)
Richard Greenfield +44 (0)20 7647
Alex Carse 2800
Farm Street Communications
(Media Relations) +44 (0)7593
Simon Robinson 340 107
About Amara Mining plc
Amara is a gold explorer/developer with assets in West Africa.
The Company is focused on unlocking the value in its development
projects. At Yaoure in Côte d'Ivoire, this will be done by
increasing the confidence in the existing Mineral Resource and
economics at the project as the Company progresses it through to
Pre-Feasibility Study and Bankable Feasibility Study. At Baomahun,
this will be achieved by gaining an improved understanding of the
exploration upside potential and underground opportunity. With its
experience of bringing new mines into production, Amara aims to
further increase its production profile with highly prospective
opportunities across both assets.
The RC and DD drilling programmes at Yaoure were undertaken by
two independent drilling contractors. Typically samples for
assaying were taken at one metre intervals. Sample preparation was
carried out at the Company's facility at Yaoure, prior to fire
assay at Actlabs in Ouagadougou, Burkina Faso. The samples were
crushed down to minus 2mm and then pulverised down to 90% passing
75 microns, prior to analysis for gold by 50g fire assay. As part
of the Company's QA/QC procedures, internationally recognised
standards, duplicates and blanks were inserted. Check assays are
being carried out at ALS Geochemistry in Johannesburg, South Africa
and Vancouver, Canada. The laboratories used are independent of the
Company.
Peter Brown is a "Qualified Person" within the definition of
National Instrument 43-101 and has reviewed and approved the
information contained within this announcement. Dr Brown (MIMMM) is
the Group Exploration Manager.
Mario Rossi is a "Qualified Person" within the definition of
National Instrument 43-101 and is responsible for the estimation of
the Yaoure Mineral Resource. He has reviewed and approved the
relevant technical information relating to the resource estimates
in this release. Mr Rossi (Fellow AusIMM, Member CIM, Member SME)
is Principal Geostatistician of GeoSystems International, Inc.
Adam Wheeler is a "Qualified Person" within the definition of
National Instrument 43-101 and is responsible for pit optimisation
aspects of the Yaoure Mineral Resource. He has reviewed and
approved the relevant technical information relating to the
resource estimates in this release. Mr. Wheeler (Fellow IOM(3) ,
C.Eng) is an Independent Mining Consultant.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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