Monday, 3 December 2012

Amara Mining reveals significant drill results from Yaoure gold project

West African gold firm Amara Mining (LON:AMA) revealed what it calls ‘significant’ results from the Yaoure project in Cote d'Ivoire.

Amara says the results have, so far, confirmed the potential for a large moderate grade sulphide deposit. This mineralisation lies beneath the previously mined oxide resources.

It revealed that 90 holes have been drilled and all of them have encountered mineralisation.

The highlight results had significant intercepts with lengths of between 8 and 28 metres with grades ranging from 3.24 to 9.47 grams per tonne gold.

Amara is on-target to complete an update for Yaoure’s inferred resource in the first quarter of next year. Also a new exploration campaign is planned to continue step-out drilling to get a better understanding of the area’s prospectivity.

"These latest drilling results from Yaoure continue to confirm our belief in the project's potential,” said chief executive Peter Spivey.

“We expect the remaining assays in the coming days and we intend to update our sulphide resources in Q1 2013.

“By using our cash flow from Kalsaka to fund our exploration at Yaoure and at the Baomahun project in Sierra Leone, Amara is differentiating itself from other junior mining companies and delivering on its strategy to become a mid-tier producer."

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