re: ann out New Zone DiscoveredGrumesa Gold Project – Ghana,...

re: ann out New Zone Discovered
Grumesa Gold Project – Ghana, West Africa
Highlights
• A new strongly gold mineralized zone has been identified from the latest round of drilling at the
Grumesa Gold Project on the Ashanti Gold Belt in Ghana.
• This new zone of mineralization has the potential to impact significantly on the economics of the
planned heap leach project, by providing additional gold ounces and higher grade material which would
enhance the cash flow in early years.
• One hole averaged 1.7g/t Au over its entire length of 60m, including 4m at 6.3g/t, 4m at 5.3g/t and
12m at 2.3g/t Au. The easternmost hole on the same section intercepted 19m at 1.9g/t Au form
surface. A third hole, drilled 200m to the south (but off strike), intercepted 66m at 0.9g/t, including 6m
at 2.0g/t and 22m at 1.3g/t Au.
• A further 5,000m of RC and diamond drilling is scheduled to commence in January and will cover this
under-explored northern portion of the deposit as well as other targets, with the view to delineating
more feedstock for the proposed heap leach mining operation at Grumesa.
• Infill drilling on the resource at the southern end of the project returned intercepts including 42m at
2.3g/t, 38m at 1.7g/t, 22m at 1.8, 8m at 3.7g/t, and 6m at 4.5g/t Au.
• The Grumesa Gold Project’s existing Inferred gold resource of 800,000 oz will be upgraded in April to
incorporate results from the latest round of drilling and the proposed 5,000m drilling program.