Cluff Gold plc Announces Yaoure Project Drilling Results
Monday, Jan 23, 2012
Cluff Gold ("Cluff Gold" or the "Company") (AIM:CLF)(TSX:CFG), the dual AIM/TSX-listed West African focused gold mining company, is pleased to announce significant sulphide drilling results from its Yaoure Project (previously known as Angovia) in Cote d'Ivoire.
Peter Spivey, Chief Executive of Cluff Gold, commented:
"Following the Company's decision to re-evaluate the Yaoure project in 2011, we are extremely pleased to be able to report such strong sulphide mineralisation from the initial 1,967m diamond drilling programme. Given the early successes we have had in regard to our sulphide drilling, we have taken the decision to focus on the significant sulphide potential that we believe exists and have therefore chosen to rename the project both to reflect this and differentiate it from the previous strategy which focused solely on the oxide resources.
The favourable location of Yaoure, with existing mine infrastructure, a nearby hydroelectric dam capable of supplying low cost power for a sizeable milling operation, and abundant available water, add to our belief that Yaoure has the potential to become a further significant project for Cluff Gold.
Initial metallurgical test work indicates that the sulphide mineralisation is not refractory and the relatively shallow dip of the mineralisation, 25-35 degrees to the east, could result in significant open pit resources being delineated at favourable stripping ratios. To this end, we have approved a US$6.6 million budget for an aggressive 79,000m exploration drill programme in 2012 which is currently underway. Our focus is to delineate sufficient sulphide resources to sustain a CIL operation, whilst at the same time continuing to search for lateritic and saprolitic oxide resources which could result in an early re-opening of the heap leach operation. We remain confident in the project's ability to deliver considerable value for our shareholders and we look forward to updating the market on progress made during the course of 2012."
Yaoure Project Strategy
During the second half of 2011, the Company embarked on a dual exploration strategy on its 367 square kilometre property to further investigate the potential for resource delineation. The drill results reported in this release refer to initial results from the sulphide ores at Yaoure Central (previously Prospect 4) where oxide mining had previously been undertaken.
A map showing the location of the Yaoure project and the various prospects thereon, together with drilling maps and cross sections, is set out on the Company's website at www.cluffgold.com
The drilling results announced today focus on the sulphide potential of Yaoure Central, where the current sulphide measured and indicated resources total 249,000 ounces (4.9Mt at 1.6g/t)(ii). This resource is based on previous RC drilling typically extending down to about 100m below the original surface (60m below the current pit floor).
A total of 23 diamond drill holes (1,967m) were completed at Yaoure Central by late December 2011: 13 holes (838m) to test east-west ("E-W") trending structures previously not included in any resource models, of which 11 results are reported; and 10 holes (1,127m) to test the main north-south ("N-S") trending structure, of which 2 results are reported. Results from the remaining 10 holes will be announced once received.
Although the testing of the main N-S structure was the primary objective, the E-W structures were drilled first due to easier access within the pit during the later part of the rainy season in September and hence a higher number of results are available from this drilling. A full set of results is set out in Appendix 1.