Golden Saint Resources Ltd Operational update (3307P)
16 Novembre 2016 - 10:46AM
UK Regulatory
TIDMGSR
RNS Number : 3307P
Golden Saint Resources Ltd
16 November 2016
16 November 2016
Golden Saint Resources Ltd
("Golden Saint" or the "Company")
General Update
Golden Saint Resources Ltd (AIM: GSR), the West African-focused
diamond and gold exploration company quoted on AIM, is pleased to
provide the market with the following operational updates, relating
to two of the Company's licences in Sierra Leone.
Baja licence
Following completion of the vehicular road access, as announced
on 31 October 2016, the local washing plant and ancillary equipment
was relocated and assembled at a strategic location close to both
the newly-built security house and to the existing stockpile. This
local plant was commissioned on 13 November 2016 when gravel
washing operations commenced. The initial wash, of about 6 tonnes
of gravels from the existing stockpile, has recovered 1.69 carats
of rough diamonds, comprising three diamonds, to date. In addition,
the next prospective sites from which gravels will be extracted and
washed have been identified, based on the information obtained from
field reconnaissance and which is further supported by final
imageries from the aeromagnetic survey data compiled by external
independent geophysical consultants in February 2014 which gave
these target areas high priority ranking.
Tongo licence
During the dewatering operation at the alluvial pit at Tongo
site 1 there was a breakage of the shaft connected to the
centrifugal pump, resulting in equipment downtime. Additional time
was then incurred in sourcing and replacing the damaged shaft. With
the repairs carried out satisfactorily, the dewatering operation
was completed on 14 November 2016 and the excavator was mobilised
to the site to commence gravel extraction operations at Tongo site
1. Gravel extraction using the excavator is expected to take
approximately two weeks subject to any unforeseen machinery
breakdowns while gravel washing using the recently maintained Dove
explorer will take place concurrently. Security measures that were
implemented during the bulk sampling operations carried out in
August 2016 will remain in place during these operations.
Site visit by Rock Forage Consulting Services ("Rock
Forage")
With the above planned operations underway in Baja and Tongo,
the site visit by Rock Forage and key individuals from the GSR
management team will commence on 1 December 2016. The visit is
timely as it will allow the Company's technical consultants to
closely examine the production data, thus giving a better
assessment of the potential diamond and gold recoveries in both the
Company's Baja and Tongo licence areas. With the interpretation of
these results, it is expected that the exploration strategy going
forward will also be fine-tuned accordingly, with the objective of
confirming gold and diamond mineralisation.
The Company will provide further updates to the market as work
progresses.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Golden Saint Resources Ltd Keng Hock Seah +618 6145 4400
Beaumont Cornish Limited Roland Cornish / Emily Staples +44 (0) 20 7628 3396
SVS Securities Plc Tom Curran / Ben Tadd +44 (0)203 700 0093
Cassiopeia Services LTD Stefania Barbaglio +44 (0)7949690338
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGCBDBDSBBGLL
(END) Dow Jones Newswires
November 16, 2016 04:46 ET (09:46 GMT)
Grafico Azioni Golden Saint (LSE:GSR)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Golden Saint (LSE:GSR)
Storico
Da Giu 2023 a Giu 2024