MetalNRG Plc Gold Ridge Level 6 waste dump Results

 
TIDMMNRG 
 
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT 
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE 
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. 
 
This announcement is for information purposes only and is not a prospectus and 
not an offer of securities for sale in any jurisdiction, including in the 
United States, Australia, Canada, Japan and South Africa. 
 
30th September 2019 
 
                                 MetalNRG plc 
                         (The "Company" or "MetalNRG") 
 
                     Gold Ridge Level 6 waste dump Results 
 
Metal NRG Plc (LON: MNRG), the natural resource investing company, today 
announces that it has received the final results from the ALS Global laboratory 
in Tucson Arizona for samples taken from its Gold Ridge Project. The samples 
were, specifically, taken from the waste dump outside the main entrance of one 
of the three previously producing Gold Mines on the license area. 
 
The results pertain to samples, taken earlier in September 2019, and confirm a 
viable 1.74g/t of gravity recoverable gold from this specific waste dump. The 
particular waste dump outside level 6 is made up of 2498 tonnes containing 5.25 
kg (169 ounces) of gold. The Company now plans to monetise the ore in the waste 
dump referred to. 
 
One sample, taken from a boulder on the side of the waste dump, which 
originated from the pillars left behind from internal mine workings at level 6, 
returned an assay of 115 ounces per tonne gold (3,949 g/t). This sample, along 
with the visible gold the contractors saw when on site, now requires further 
investigation. 
 
The Company plans to carry out additional sampling of the internal pillars left 
behind at level 6, to determine the potential ore content of the pillars. The 
conditions of the workings were good with easy access. 
 
The Company's strategy is to progress projects with cash generated from the 
projects itself. The initial indications from the work completed thus far at 
Gold Ridge would suggest that we are on the right track towards further 
developing the Gold Ridge Project. 
 
Rolf Gerritsen, CEO of MetalNRG, said "I am pleased with the results indicating 
that our strategy of generating cashflow from existing projects to further 
develop projects can work. We are, of course, delighted with the additional 
upside opportunity, to be further investigated at level 6 of the Gold Ridge 
mine and the possible additional exploration upside opportunity offered, not 
only by the Dives Mine, but the other areas of the previously 3 gold producing 
mines along with additional waste dumps left behind, which we will plan to 
investigate further over the next 12 months". 
 
Rolf Gerritsen, CEO of MetalNRG, arranged for the release of this announcement. 
 
Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He 
has reviewed the update and consents to the inclusion of the exploration 
information in the form and context in which it appears here. He is a Competent 
Person for the purposes of the reporting of these results. 
 
The information communicated within this announcement is deemed to constitute 
inside information as stipulated under the Market Abuse Regulations (EU) No. 
596/2014. Upon the publication of this announcement, this inside information is 
now considered to be in the public domain. 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
For further information, please contact: 
 
MetalNRG PLC                                           [phone] 
Rolf Gerritsen (Chief Executive 
Officer) 
 
Joint Broker PETERHOUSE CAPITAL                        [phone] 
LIMITED 
Guy Miller/Mark Anwyl 
 
Corporate Broker SI CAPITAL                             [phone] 
Nick Emerson 
 
 
 
END 
 

(END) Dow Jones Newswires

September 30, 2019 08:37 ET (12:37 GMT)