Drilling Update
Published: 11/11/2005, 11:04
Glencar Mining PLC 11 November 2005 GLENCAR MINING PLC Glencar to Commence Drilling in Mali 11 November 2005 Glencar is pleased to announce that the drilling programme at Komana in Mali is scheduled to commence next week. Approximately 2,200 metres of reverse circulation drilling are planned on the Komana West mineralised shear system. The Komana West target is a north-south trending shear system with associated extensive artisanal mining activity over a strike length of at least 1 kilometre and the programme is designed to intersect the mineralised shear system beneath the artisanal workings. Geological and structural mapping carried out by Glencar at Komana West has located a significant mineralised zone hosted by metasedimentary rocks with closely associated intrusive rocks of granitic composition, all within the north -south shear zone. Artisanal workings have shown that the mineralisation exists at depths of up to 60 metres from surface, at which depth the water table has precluded the artisanal miners from further mining. Previous sampling at Komana West has yielded grades from grab samples of up to 108 g/t. At the end of the last field season, in June last, a rock sampling programme at Komana West included the sampling of an east-west trending quartz vein system within the shear envelope. 19 grab samples were sampled from a 19 metres long north-south panel along the exposure. Of the 19 quartz vein grab samples taken 16 returned values of greater than 0.5g/t and the average grade of the 19 samples was 5.8g/t. The drilling programme will consist of 23 holes of average depth 95 metres. All holes will be assayed for gold on a per metre basis. The results of the drilling programme are expected to be available early in January 2006. The Komana licence is not part of the proposed agreement with Gold Fields. Gold Fields may earn a 65% interest in the Bokoro, Sanioumale and Farasaba Licences at Sankarani, through phased exploration expenditures on these licences totalling US$12 million. The proposed agreement with Gold Fields is currently being finalised, legal and technical due diligence having been satisfactorily completed. For Further Information contact: Glencar Mining plc Hugh McCullough Tel: +353 1 661 9974 e-mail: info@glencarmining.ie Heneghan PR Rachel Watchorn Tel: +353 1 6607395 e-mail: rachel@hpr.ie This information is provided by RNS The company news service from the London Stock Exchange