Strong Initial Results from Yaoure Gold Project - Amara

AIM-listed Amara Mining (LSE:AMA) said phase 1 of its 2014 drilling campaign at its Yaoure Gold Project in Côte d’Ivoire (Ivory Coast) yielded impressive results.

In a statement, John McGloin, Executive Chairman of Amara, said the campaign had “strong initial results” that confirmed earlier data and increased the company’s confidence in the potential of the project.

The report showed six metres of gold mineralization estimated to contain 10 grammes of gold per tonne (g/t), 11 metres at 4.4 g/t, 31 metres at 5.4 g/t, 22 metres at 9.1 g/t, and 24 metres at 4.1 g/t.

Amara expects the drilling to be completed by October 2014 and a resource update is due in the third and fourth quarter of this year.

Currently, the 367-square kilometres Yaoure gold project holds a mineral resource of 6.3 million ounces of gold, with 800,000 ounces indicated and the rest inferred.

The Yaoure gold mine is projected to have a 12-year mine life and expected to deliver 325,000 ounces of gold a year.

Amara has two other gold projects, including Baomahun, which is also in the advanced stage of development and the Kalsaka/Sega, which produced over 40,000 ounces of gold in 2013.

 

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