Cluff Gold plc announceas Significant Drilling results from the Yaoure Project
Thursday, Jun 21, 2012Cluff 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 in Cote d'Ivoire.
"These results reinforce our continued confidence in the Yaoure gold project. The location of the project, situated close to existing infrastructure, means that the cost base for development is much lower than other projects located in West Africa. Yaoure is fast becoming a major component in delivering our stated strategy for becoming a mid-tier gold producer."
Yaoure is a typical mesothermal, quartz-carbonate vein-style gold deposit hosted by Early Proterozoic (Birimian) basaltic metavolcanics and granodiorite intrusions, at lower greenschist facies metamorphic grade. Ore in the two moderately east-dipping main shear zones is significantly enhanced by an array of structurally-controlled, auriferous quartz veins(1).
The Yaoure Central pit covers only a third of a substantial +200ppb gold in soil anomaly stretching over 3.0km within the Mount Yaoure exploitation permit. In addition to the three diamond drill rigs currently focusing on Yaoure Central, the Company is continuing exploration along a separate NW-trending 2.2km long soil anomaly, from Angovia 2 to Kongonza, with one RAB drilling rig and one RC drilling rig. The current measured and indicated resources for the Kongonza prospect total 78,000 oz(1). An upgrade of this resource is planned for Q3 based on an additional 5000m of RC drilling and 1100m of diamond core drilling (6 holes).
The favourable infrastructure in the area including access via sealed roads from Abidjan to within a few kilometres of the mine, easy access to water, and most importantly, cheap hydro-electric power from the nearby Kossou barrage, make Yaoure an ideal third operation in the Cluff Gold portfolio. It provides the opportunity to establish the Company as a mid-tier producer from the development of its existing assets.