Thursday, July 05, 2007

Cluff Gold hikes resource estimate at Baomahun

LONDON (SHARECAST) - Cluff Gold advanced today after it said the JORC compliant resource estimate at the Baomahun gold project in Sierra Leone has increased to 1.16m ounces.
The latest report, which follows the recent completion of a 98 hole core drilling programme, shows indicated resources increased by 185%.
The firm said it has received assay results from 51 holes and has used this information to estimate the new resource grading 3.20g/t gold.
Drilling has now stopped due to the start of the annual wet season, although results from the remaining 47 holes are expected during July and August.
“There is considerable scope downdip of and laterally from the current resource area and we believe that there is potential to further increase the resource in the future with additional exploration and drilling,” said Cluff’s technical director Douglas Chikohora
“The planned completion in September of the scoping study marks a significant milestone in the development of the Baomahun project.”

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