Commissioning of the Kalsaka Mine Gold Processing Plant
and 7,000 Metre Drilling Programme Underway at Baomahun
Cluff Gold plc,the West African focused gold mining
company, announces the successful commissioning of the Kalsaka
Mine gold processing plant in Burkina Faso and the commencement of a 7,000 metre drilling
programme at Baomahun, its flagship gold project located
in Sierra Leone.
Highlights:
Kalsaka Gold Mine, Burkina
Faso (78% ownership)
·
Gold processing plant successfully
commissioned with the production of 4,891 ounces
of fine gold in March;
·
Total gold production of 12,890 ounces of fine
gold in the first quarter of 2009;
·
Full commissioning expected in
April;
·
Sold gold for US$917 per
ounce in March;
·
Processed grades achieved in March
were 22.6% above budget; and
·
Mine on target to exceed production
expectations of 60,000
ounces in 2009.
Baomahun Gold Project, Sierra Leone: (100%
ownership)
·
Drilling programme underway;
·
Initial drilling of 7,000 metres
planned in 12 holes prior to commencement of the rainy season in
July;
·
Current drilling
is targeting additional underground resource potential;
·
Scoping study combining open pit and
underground operations scheduled to be completed by the end
of 2009; and
·
25 year Mining Lease agreement signed by the
Minister of Mines.
"The
successful commissioning of the Kalsaka gold
processing plant and the production of 12,890 ounces of gold
from this mine in the first quarter of this year puts Cluff Gold on target to produce 100,000 ounces in
2009 from the Kalsaka Mine and Angovia
Mine," said Mr. Algy Cluff,
Chairman of Cluff Gold plc. "We expect that the Kalsaka operation will be fully commissioned by the end of
this month and that we will achieve the current production estimate of 60,000 ounces in 2009
at this operation. To further expand our gold resources, we are also
advancing our flagship gold exploration project, Baomahun,
through a 7,000 metre
drilling programme. As previously reported on September 30,
2008, metallurgical test work results indicate that the ores are not
refractory with average recovery of 92% being achieved at Baomahun."
In
addition to the Kalsaka and Baomahun
projects, the operations at the Angovia Mine
in Cote d'Ivoire are
improving month to month. This is due to the increased mining fleet
which is achieving better production rates. The mine is expected to produce 40,000 ounces in 2009.
Douglas
D Chikohora has reviewed and approved the information
contained in this announcement. Douglas D Chikohora,
(MSc, MIMMM, CEng) is Technical Director of the Company.
For
further information, please contact:
Cluff Gold plc
J.G.
Cluff
Chairman
Tel:
+44 (0) 20 7340 9790
Nominated
Adviser
WH
Ireland Limited
David
Youngman / Katy Mitchell
Tel:
+44 161 832 2174
Joanna
Longo
Investor
Relations (Canada)
The
Equicom Group
+1 416
815 0700 ext 233
jlongo@equicomgroup.com
|
Simon
Robinson
Investor
Relations (U.K.)
Farm
Street Communications Ltd
+44 (0) 207 099 2212
simon.robinson@farmstreetmedia.com
|
About Cluff Gold
Cluff Gold is focused on the identification,
acquisition and development of gold deposits in West
Africa that are amenable to open-pit mining and low cost
production techniques. The Company has assembled a portfolio of
mineral interests at various stages of development in C?te d'Ivoire, Burkina Faso, Sierra
Leone and Mali. Cluff
Gold progressed from being an explorer to a producer in Q1 2008 and is expected
to produce 100,000
ounces of gold on an annualised basis from 2009 from its
Angovia Gold Mine in Cote
d'Ivoire and from its Kalsaka
Gold Mine in Burkina
Faso. Cluff Gold
is actively evaluating known satellite deposits to expand the resource base at
both mines.
This
News Release includes certain "forward-looking information" within
the meaning of applicable Canadian securities legislation. All
statements other than statements of historical fact, included in this release,
including, without limitation, the positioning of the Company for future
success, statements regarding potential future production at Angovia and Kalsaka, exploration and
drilling results at Baomahun, and
future capital plans and objectives of Cluff
Gold, are forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from Cluff Gold's
expectations include, among others, risks related to international operations,
the actual results of current exploration and drilling activities,
changes in project parameters as plans continue to be refined as well as future
price of gold. Although Cluff Gold has
attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated or intended.
There
can be no assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Cluff
Gold does not undertake to update any forward-looking statements that are
included herein, except in accordance with applicable securities laws.
NO REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
This information is provided by RNS
The company news service from the London Stock
Exchange