Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
13 October 2017
Goldplat plc ('Goldplat' or 'the Company')
Ashanti Gold Corp releases an exploration update at the Anumso Gold Project
Goldplat, the AIM quoted gold producer with international gold recovery operations located in South Africa and Ghana and a gold mine in Kenya, notes the announcement released by Ashanti Gold Corp. ('Ashanti') in relation to Goldplat's Anumso Gold Project in Ghana ('Anumso'), in which Ashanti has the right to earn up to 75% of Goldplat's interest by expending US$3million on exploration work.
Ashanti has identified broader and new mineralised zones at Anumso, which are in aggregate 480m wide in certain areas of mineralisation, following soil sampling. Approximately 1,200 samples revealed multiple zones of mineralised Banket conglomerate. The soil samples tested returned samples with over 30 ppb gold ('Au'), with 24 samples containing more than 100 ppb Au. Results from initial metallurgical test work on oxidised and unoxidised mineralised samples were encouraging; strong gold recovery by cyanidation was observed and an initial Extended Gravity Recoverable Gold test was conducted on an unoxidised composite, which indicated that up to 72.9% of the gold may be recoverable by gravity methods. Further work to optimise process conditions and evaluate variability is planned by Ashanti.
To read the full announcement released by Ashanti in compliance with NI 43-101, please visit Ashanti's website: https://ashantigoldcorp.com/news/2017
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For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:
|Gerard Kisbey-Green||CEO Goldplat plc||Tel: +27 (71) 8915775|
|Colin Aaronson / Daniel Bush||Grant Thornton UK LLP (Nominated Adviser)||Tel: +44 (0) 20 7383 5100|
|Andrew Raca / Justin McKeegan||VSA Capital Limited (Broker)||Tel: +44 (0) 20 3005 5000|
|Charlotte Page / Susie Geliher|| St Brides Partners Ltd |
|Tel: +44 (0) 20 7236 1177|
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
Goldplat plc is an AIM quoted gold producer with two market leading recovery operations in South Africa and Ghana and an operational gold mine in Kenya. The Company produced 42,857 ounces of gold during FY 2017, with 40,285 gold equivalent ounces sold and transferred, resulting in an operating profit from continuing operations of £2.9m for the year. This result does not benefit from the increased processing capacity that was achieved at the Kilimapesa Gold Mine towards the end of FY 2017, with operational profitability achieved during last two months of FY 2017. Accordingly, the Company believes it is well placed to build upon production and profitability during FY 2018.
The Company's strategy is focussed on utilising cash flow generated from its flagship gold recovery and mining operations to self-fund the sustainable growth and expansion of its niche gold recovery business model internationally. The Company is also committed to increasing its primary mining production output through acquisition / gaining interests in producing or near-production assets, preferably in Africa. Goldplat retains exposure to a small exploration project in Ghana, in which Ashanti Gold Corp. is earning an interest via an earn-in option agreement.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Goldplat plc via Globenewswire