Ampella Mining* (AST:AMP) – High-grade gold drilled at new...

Ampella Mining* (AST:AMP) – High-grade gold drilled at new Doubema discovery

http://www.ampella.com.au

· Ampella have done it again! The team have now discovered high grade gold intersections at Doubema and have declared the prospect, a discovery!

12m at 16.1 g/t gold (including 4m at 45.8 g/t gold from 80m)

9m at 11.9 g/t gold (including 5m at 20.2 g/t gold from 52m)

9m at 4.7 g/t gold from 44m

13m at 2.1 g/t gold (including 2m at 11.5 g/t gold from 15m)

· Most explorers would see these results as a major discovery but for Ampella this is their third such discovery in as many years.

· The secret to Ampella’s success is the company’s land package along a shear zone which runs north west up Burkina Faso from north west Ghana. Ampella hold licenses along 110km of this shear zone and are making discoveries both on and off the trend.

· The gold intersections appear to offer open pit mining potential as relatively near surface if supported by sufficient ore tonnage and consistency of grade.

· Ampella recently announced a 3.1moz JORC resource at Konkera

Conclusion: Ampella has potential to develop three gold mines in Burkina Faso on its current discovery record. We expect the first gold mine at Konkera to produce some 200,000 to 300,000 ozpa of gold over the next few years. The new resource at Konkera may result in the development of a larger scale mine. We see Ampella as offering potential to increase their resource base beyond 5moz over the next few years.