DGAP-News: Pearl Gold AG: New drilling program at Malian concession makes good progress
(firmenpresse) - DGAP-News: Pearl Gold AG / Key word(s): Drilling Result
Pearl Gold AG: New drilling program at Malian concession makes good
progress
24.05.2012 / 10:07
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Pearl Gold AG:
New drilling program at Malian concession makes good progress
Frankfurt, 23 May 2012 - Pearl Gold AG (02:GR) announces that 32 holes of a
400 hole RC drilling program to test alluvial gold occurrences in the
Traorela area have been completed up until yesterday. Traorela is the
second potential gold mining site of the concession in the south of Mali
owned by Wassoul'Or S.A., in which Pearl Gold holds a 25 percent stake.
Apart from Traorela, the 100 km²sized concession encompasses the Kodieran
area where gold production is already running and three further potential
mineralised sites.
The testing program at Traorela has started one month ago and is designed
to be completed before the end of June 2012. It commenced with a detailed
mapping and satellite imagery interpretation of the approximately 9 km²area. The holes drilled so far range between 15 and 31 meters in depth, and
have been sampled at one meter intervals. Samples are being forwarded to an
independent laboratory for gold analysis, and will - together with
historical data - be utilised to compile an overall picture of the area
that is being tested. The aim is to delineate target zones for more
intensive follow-up drilling after the completion of the forthcoming rainy
season. Duplicate samples will be used to launch preliminary mineral
engineering studies, which will ultimately determine the optimal mining and
processing technologies that should be employed in the event that a viable
resource is proven.
Pearl Gold AG
Pearl Gold AG is a holding company listed on the Open Market of the
Frankfurt Stock Exchange, based in Frankfurt. The company focuses on
investments in West African exploration and mining corporations, especially
in the field of gold and other precious metals. The first investment of
Pearl Gold is the Malian mining company Wassoul'Or, in which Pearl Gold
holds 25% of shares. Wassoul'Or concentrates on the exploration and
production of gold and runs the Kodieran gold mine in the South of Mali.
For further information visit http://www.pearlgoldag.com
For Inquiries:
MSL Financial
Steffi Fahjen
Email: steffi.fahjen(at)mslgroup.com
Tel: +49 (0) 69 6612456 8394
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information
included in this news release constitutes 'forward-looking statements'. The
words 'expect', 'plan', 'will', 'intend', 'estimate' and similar
expressions identify forward-looking statements. Forward-looking statements
are necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. The Pearl Gold AG cautions the reader that such
forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or
achievements of the Company to be materially different from the Company's
estimated future results, performance or achievements expressed or implied
by those forward-looking statements and the forward-looking statements are
not guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to, risks associated with the mining
industry such as government regulation, environmental and reclamation
risks, title disputes or claims, success of mining activities, future
commodity prices, costs of production, possible variation in mineral
reserves, mineral resources, grade or recovery rates, failure of plant,
equipment or processes to operate as anticipated, accidents, labour
disputes, the timing of estimated future production, capital expenditures,
financial market fluctuations, requirements for additional capital,
conclusions of economic evaluations, limitations on insurance coverage,
risks associated with using third-party contractors and inflation. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by applicable law.
End of Corporate News
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171323 24.05.2012
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Datum: 24.05.2012 - 10:07 Uhr
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News-ID 149677
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