pru announcement, page-2

Perseus intersects gold grading 139.9gpt


Tuesday, 20 May 2008

PERTH-based Perseus Mining has intersected gold grading up to 139.9 grams per tonne at its West African Tengrela project.



Significant assays from the ongoing diamond drilling program at the Sissingue prospect were 1 metre at 139.9gpt gold from 86m, 31m at 11.3gpt gold from 69m and 1m at 92.5gpt from 81m.

Diamond drilling has identified gold mineralisation at the Sissingue East prospect, with intersections of 31m at 1.1gpt gold from 94m and 9m at 1.1gpt gold from 91m, including 15 at 1.1gpt gold from 158m.

Perseus has utilised a second drill rig at the prospect to step up the exploration program and define a resource for Sissingue by the end of the year.

Earlier this month, Perseus reported increased resources at its Ayanfuri gold project in Ghana, which brought the company’s Ghana resources to more than 4.7 million ounces.

Perseus managing director Mark Calderwood said the company was targeting 8Moz in gold resources within its African portfolio.

Perseus shares remained unchanged at $1.45 at close of trade.