/R E P E A T -- Cluff Gold Announces a 40% Increase in Total Mineral
Resources at the Baomahun Gold Project, its Flagship Gold Deposit in Sierra
Leone/
- Inferred Mineral Resources have increased by over 500,000 ounces to 957,000 ounces of gold (9.2 million tonnes grading 3.2 g/t Au). - In addition, total Measured and Indicated Mineral Resources are now 1,103,000 ounces of gold (12.0 million tonnes grading 2.9g/t Au). - A Scoping Study has been initiated into the combined open pit/underground scenario with completion expected in Q1, 2010 which will be independently reviewed by SRK Consulting (UK) Limited. - A work programme to follow up on the positive results announced today is planned to commence in Q4 2009. This will include investigation of potential extensions of the mineralisation as announced on 8 September 2009, including DDH301 (10 metres at 10.5 g/t) in the Central Zone and DDH298 (9 metres at 5.97 g/t) in the Eastern Zone.
Commenting on these results,
The increase in the Mineral Resource at Baomahun results from the completion of an additional 7,000 metres of core drilling across 11 holes that has been completed since the previous Baomahun mineral resource was announced on
Table 1 below summarises the current Mineral Resource estimate at Baomahun and is based on a 1g/t Au cut off:
Table 1. Baomahun Gold Project NI43-101-compliant Mineral Resource, October 2009 ------------------------------------------------------------- Category Domain Tonnes Grade Gold ------------------------------------------------------------- (t) (g/t Au) (Oz) ------------------------------------------------------------- EASTERN 1,997,000 3.4 221,000 ------------------------------------------------ FOLD 159,000 2.4 12,000 ------------------------------------------------ Measured CENTRAL 530,000 3.0 51,000 ------------------------------------------------ WESTERN1 246,000 2.4 19,000 ------------------------------------------------ WESTERN2 1,001,000 2.4 77,000 ------------------------------------------------ TOTAL 3,933,000 3.0 380,000 ------------------------------------------------------------- ------------------------------------------------------------- EASTERN 2,545,000 2.9 241,000 ------------------------------------------------ FOLD 487,000 2.9 45,000 ------------------------------------------------ Indicated CENTRAL 1,744,000 3.4 191,000 ------------------------------------------------ WESTERN1 1,072,000 2.5 87,000 ------------------------------------------------ WESTERN2 2,255,000 2.2 159,000 ------------------------------------------------------------- TOTAL 8,103,000 2.8 723,000 ------------------------------------------------------------- ------------------------------------------------------------- EASTERN 3,930,000 3.0 381,000 ------------------------------------------------ FOLD 2,683,000 4.2 360,000 ------------------------------------------------ Inferred CENTRAL 1,345,000 3.0 130,000 ------------------------------------------------ WESTERN1 277,000 2.0 18,000 ------------------------------------------------ WESTERN2 931,000 2.3 68,000 ------------------------------------------------------------- TOTAL 9,166,000 3.2 957,000 ------------------------------------------------------------- Notes: (1) The estimates of mineral resources were calculated in accordance with the definitions adopted by the Canadian Institute of Mining Metallurgy and Petroleum and incorporated into National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI43-101"). The mineral resources estimates were carried out by Andrew Owusu Asante who is a Member of Australasian Institute of Mining and Metallurgy (AusIMM) under the direction of Douglas D Chikohora, MSc, MIMMM, CEng., Technical Director and Cluff Gold's Qualified Person who has reviewed this news release for accuracy and compliance. (2) Mineral resource estimates are reported in gross ounces and not attributable ounces. (3) The estimate of mineral resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. (4) Grade represents an average, weighted by reference to tonnes of ore type where several recovery processes apply. (5) Ounces estimated to be present in the tonnes of ore which would be mined and processed. Mill recovery rates have not been applied in calculating the contained ounces. (6) This mineral resource estimate for the Baomahun property uses a 1.0 g/t Au cut-off. (7) Cluff Gold's attributable portion of the mineral resource estimate is 100%. (8) Tonnes and gold figures are rounded to the nearest '000. Grade is rounded to 1DP. As a result, rounding errors may occur. (9) SRK Consulting (UK) Ltd has been retained to independently review the Scoping Study as this is produced.
The Baomahun Gold Project covers an area of about 137 km sq and is located 180 kilometres east of
Gold grades were estimated using ordinary kriging and inverse distance weighting interpolation methods. The mineralisation models were constrained within the wireframe with primary block dimensions of 10 metres along the strike and cross structure directions, and 10 metres in the vertical direction. Higher-grade values have been statistically capped to 40 g/t Au. A total of 3,346 density determinations have been undertaken using the displacement method and the density samples falling within each defined wireframe domains were selected and the average density applied. Tonnages and grades are reported using a 1.0 g/t Au cut-off.
Drill cores used for assaying were sampled at a maximum of one metre intervals and were cut with a diamond saw with one half of the core placed in sealed bags and sent to the
Metallurgical testwork, which included recovery and comminution tests, has now been completed to feasibility stage level. Results obtained from these tests have confirmed preliminary earlier findings that high gold recoveries can be achieved using a conventional direct cyanidation processing method. Comminution test results show that the mineralised material at Baomahun requires conventional milling with only medium energy requirements.
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 future exploration drilling results at Baomahun, and potential production at Angovia and Kalsaka, 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.
A technical report prepared by SRK Consulting (UK) Limited entitled "Technical Review of the Baomahun Gold Exploration Project,
Douglas D Chikohora has reviewed and approved the information contained within this announcement. Mr Chikohora (MSc., MIMMM., CEng.) is the Technical Director of the Company.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE Notes to Editors:
About Cluff Gold
Cluff Gold is focused on the identification, acquisition and development of gold deposits in West
Baomahun,
The Baomahun Gold Project covers an area of about 137 km2 and is located about 180 kilometres east of
The Baomahun exploitation permit covers more than 12 kilometres of prospective strike along the Kangari Hills which is composed of Archaean greenstone belt terrain consisting of banded iron formation (BIF). Gold mineralisation in the drilled areas is intimately associated with the BIF and other lithologies in close proximity to the BIF. Accordingly, future exploration and drilling will continue to use the BIF as a marker horizon for auriferous zones along the belt.
On
Cluff Gold now holds 100 per cent. of the Baomahun Gold Project. Cluff Gold announced on
For further information: Cluff Gold plc, J.G. Cluff/Douglas Chikohora, Tel: +44 (0) 20 7340 9790; Evolution Securities Limited, Rob Collins, Tim Redfern, Tel: +44 (0) 20 7071 4300; Farm Street Communications Ltd, Investor Relations (U.K.), Simon Robinson, +44 (0) 20 7099 2212, [email protected]; The Equicom Group, Investor Relations (Canada), Joanna Longo, (416) 815-0700 ext 233, [email protected]
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