NI 43-101 Gold Reserve and Resource Estimates (6626U)
20 10월 2010 - 3:00PM
UK Regulatory
TIDMCAN
RNS Number : 6626U
Central African Gold PLC
20 October 2010
Central African Gold Plc / Ticker: CAN / Market: AIM /
Sub-sector: Gold Mining
20 October 2010
Central African Gold Plc
NI 43-101 Compliant Gold Reserve and Resource Estimates
for Zimbabwe Gold Mining Properties
Central African Gold Plc ('CAG' or the 'Company'), the AIM
quoted gold mining and exploration company, announces that its
major shareholder, New Dawn Mining Corp. ('NDM'), has completed and
released to the market a technical report compliant with National
Instrument 43-101 ('the NI 43-101 Report'), being the Canadian
national instrument for the Standards of Disclosure for Mineral
Projects. The CAG technical report has been filed on SEDAR
(www.sedar.com), under New Dawn Mining Corp., and is available on
CAG's website.
The NI 43-101 Report includes gold reserve and resource
estimates for CAG's Zimbabwe gold mining properties held through
its two subsidiaries, Falcon Gold Zimbabwe Limited ('Falgold')
(84.7 per cent. owned) and Olympus Gold Mines Limited ('Olympus')
(100 per cent. owned).
Summary of CAG's Total Gold Reserves and Resources in Zimbabwe,
as set out in the NI 43-101 Report:
CAG's attributable interest in Falgold and Olympus consists
of:
-- Gold Reserves of 59,600 ounces, grading 3.50 g/t, contained
in 523 300 tonnes of mineralised material.
-- Gold Resources (inclusive of reserves) of 830,200 ounces,
grading 1.50 g/t, contained in 16,820,700 tonnes of mineralised
material.
-- Inferred Gold Resources of 218,300 ounces, grading 4.60 g/t,
contained in 1,482,500 tonnes of mineralised material.
The NI 43-101 Report that includes the above gold reserve and
resource estimates for the Company's Zimbabwe gold properties was
prepared by Michael Othitis of Medusa Geo-Consulting LLC, who is an
Independent Qualified Person as defined by NI 43-101. The contents
of this news release were supervised and reviewed by Ian R.
Saunders, B.Sc., who is an Executive Director of CAG and President,
Chief Executive Officer, and a director of NDM, and is also a
Qualified Person within the meaning of NI 43-101.
**ENDS**
For further information please visit
www.centralafricangold.comor contact:
Roy Pitchford/ Central African Gold Plc Tel: +44(0)77 9390
Ian Saunders 9985
Tel: +(263) 9 76826/7/8
Stuart Faulkner/ Strand Hanson Limited Tel: +44(0)20 7409
James Spinney 3494
Hugo de Salis St Brides Media and Finance Tel: +44(0)20 7236
/ Felicity Ltd 1177
Edwards
Notes to Editors
CAG
Central African Gold Plc is a gold mining company with a
portfolio of production, development and exploration assets in
Zimbabwe, where the Company operates through two subsidiaries,
Falcon Gold Zimbabwe Limited (84.7 per cent. owned) and Olympus
Gold Mines Limited (100 per cent. owned). Through these
subsidiaries, CAG has five main gold mines, the Dalny, Old Nic,
Golden Quarry, Venice and Camperdown mines, which arelocated in the
highly prospective Kadoma, Shurugwi and Bulawayo gold regions in
Zimbabwe.
NDM
The Company's 88.68% shareholder is Toronto Stock Exchange
listed New Dawn Mining Corp. ('NDM'), a gold company with a broad
portfolio of production and exploration assets also in Zimbabwe.
NDM owns and operates the Turk and Angelus Mines in the upper
southwest area of Zimbabwe, which it believes have the potential to
produce an estimated 35,000 to 50,000 ounces of gold per annum. It
is NDM's objective to orchestrate the development of CAG's mining
operations and exploration portfolio, as well as its own, to become
a mid-tier gold producer focussed in Zimbabwe, with a consolidated
annualised gold production to between 50,000 and 60,000 ounces
within the next 18 to 24 months, increasing to 100,000 ounces
within four to five years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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