Golden Saint Resources Ltd Operational update and change of management (0471I)
August 24 2016 - 6:44AM
UK Regulatory
TIDMGSR
RNS Number : 0471I
Golden Saint Resources Ltd
24 August 2016
24 August 2016
Golden Saint Resources Ltd
("Golden Saint" or the "Company")
Operational update and change of management in Sierra Leone
Operational update - Tongo
The initial bulk sampling operations in Tongo have now been
completed notwithstanding the wet weather conditions prevailing
during the month of August. In the recent announcement on 18 August
2016, the Company reported that for the first sample of 140 tonnes
(dry weight) of gravels, washed between 27 June 2016 and 10 August
2016, it yielded 27 diamonds weighing 12.79 carats, giving an
initial grade of 9.1 carats per hundred tonnes and 5.37 grams of
gold giving a grade of 0.04 grams per tonne.
Further to that announcement on 18 August 2016, the Company wish
to update the market that with the subsequent washing of the second
sample, from 11 August 2016 to 22 August 2016, comprising 66 tonnes
( dry weight) of gravels, it has recovered a further 37 diamonds
weighing 13.99 carats giving a grade of 21.2 carats per hundred
tonnes. This is a much improved diamond grade compared to the
previous 9.1 carats per hundred tonnes from the first sample. The
second sample also yielded 3.12 grams of gold giving a grade of
0.05 grams per tonne.
Going forward, the Company will be focusing on modifying and
transporting the local washing plant to Baja site 2. As access to
this site is not possible during the wet season, we expect bulk
sampling of the Sewa River low terrace alluvial gravels at Baja
site 2 will commence with the onset of the dry season towards the
end of September 2016. The Company will also be looking to source
an excavator to be shipped to Sierra Leone for use at the Company's
licensed areas to improve productivity and efficiency.
A picture of the recovered rough diamonds and gold can be found
on the Company website at www.goldensaintresources.com.
Change of management in Sierra Leone
The Company is pleased to announce the promotion of Mohamed
A.S.Deen ("Sallau Deen") (aged 31) to Geologist Manager in Sierra
Leone with effect from 1 August 2016.
Sallau Deen holds a BSc Hons in geology and has approximately 7
years' combined industry experience in gold, diamond, bauxite,
coltan and iron ore. He has been with the Company since September
2013 working as a senior geologist. Prior to joining Golden Saint
Resources in 2013, Sallau Deen held a number of in house geologist
and consultancy positions, for both private and public
companies.
Sallau Deen has taken over the geological project
responsibilities from Ernest Gbappi who has recently resigned as
the Company's Chief Resident Geologist for personal reasons. Sallau
Deen is currently assisted by six technicians and one plant
engineer and will work closely with the project manager in the
Perth office and our technical and exploration consultants, Rock
Forage Consulting Services.
The information in this announcement that relates to diamond and
gold discoveries has been reviewed by Dr John D Ward (Pr. Sci. Nat;
PhD) who is an Independent Consultant employed by Rock Forage
Mining Limited and is a Fellow of The Geological Society of South
Africa. Dr Ward has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and the
activity in which he is undertaking to qualify as a Competent
Person under the 2012 Edition of the Australasian Code for
Reporting Exploration Results, Mineral Resources and Ore Reserves
(JORC Code). Dr Ward consents to the inclusion in a release of the
matters based on his information in the form and context in which
it appears.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Golden Saint Resources Ltd Keng Hock Seah +618 6145 4400
Beaumont Cornish Limited Roland Cornish / Emily Staples +44 (0) 20 7628 3396
SVS Securities Plc Tom Curran / Ben Tadd +44 (0)203 700 0093
Cassiopeia Services LTD Stefania Barbaglio +44 (0)7949690338
This information is provided by RNS
The company news service from the London Stock Exchange
END
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