RNS Number : 4037B
Cluff Gold PLC
27 October 2009
AIM: CLF
TSX: CFG
For release on Tuesday 27th October, 2009 at 7.00 a.m. GMT
CLUFF GOLD PLC
("Cluff Gold" or the "Company")
CLUFF GOLD COMMISSIONS THE ANGOVIA GOLD MINE IN CTE D'IVOIRE
London, England, 27th October, 2009 - Cluff Gold, the West African focused gold mining company, announces that, as at 30 September 2009, the operations at the Angovia Gold Mine have reached the required standard at which successful commissioning has been achieved.
"The successful commissioning of the Angovia Gold Mine, three months after the commissioning of our Kalsaka Gold Mine, is a direct result of the perseverance and hard work from our operational team on site," said Mr Algy Cluff, Chairman and Chief Executive of Cluff Gold. "I am also pleased to report that the mining of Blangan, an oxide deposit which we discovered recently just south of the main open pit, commenced at the end of September. Further exploration work is continuing on similar deposits to the south and west of Blangan. With Angovia successfully commissioned, our aggregate target of annualised gold production of 100,000 ounces for Angovia and Kalsaka, appears achievable in the last quarter of this year."
Angovia Gold Mine
The Angovia Gold Mine lies within the Company's Mt. Yaoure permit located 40km north-west of the political capital of C?d'Ivoire, Yamoussoukro, and covers a surface area of 417km2 including a 50 km2 mining permit. The mine was previously operated between 1998 and 2003. It reportedly produced over 180,000 ounces of gold during this period by heap leaching more than 2 million tonnes of oxide material. The infrastructure in the area is good and includes a hydro-electric dam 6km from the Angovia Mine site. The Company has a 90% ownership of the Angovia Gold Mine with the remaining 10% being a carried interest for the government of C?d'Ivoire.
A technical report prepared by SRK Consulting (UK) Limited entitled "Technical Review of the Angovia Gold Mine, Mount Yaoure, Cte d'Ivoire" was filed on 17 February 2009 at www.sedar.com. The Company has delineated a NI43-101 compliant combined oxide and sulphide Measured and Indicated Mineral Resources of 451,000 ounces (9.3 million tonnes at 1.5g/t Au) and Inferred Mineral Resources of 44,000 ounces (860,000 tonnes at 1.6g/t Au). It should be noted that the recently discovered deposit at Blangan is not contained in the current resource estimate.
Douglas D Chikohora has reviewed and approved the information contained within this announcement. Mr Chikohora (MSc., MIMMM., CEng) is the Technical Director of the Company.
About Cluff Gold
Cluff Gold is focused on the identification, acquisition and development of gold deposits in West Africa that are amenable to open-pit mining and low cost production techniques. The Company has assembled a portfolio of mineral interests at various stages of development in C?d'Ivoire, Burkina Faso, Sierra Leone, and Mali. Cluff Gold progressed from being an explorer to a producer in Q1 2008 and is expected to achieve a production rate of 100,000 ounces of gold per year in the fourth quarter of 2009 from its Angovia Gold Mine in Cte d'Ivoire and from its Kalsaka Gold Mine in Burkina Faso. Cluff Gold is actively evaluating known satellite deposits to expand the resource base at both mines.
Forward-looking statements
This News Release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, the positioning of the Company for future success, statements regarding potential production at Angovia and Kalsaka and future capital plans and objectives of Cluff Gold, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Cluff Gold's expectations include, among others, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Cluff Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cluff Gold does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
For further information, please contact:
Cluff Gold plc
JG Cluff, Chairman and Chief Executive
Eileen Carr, Finance Director
Tel: +44 (0) 20 7340 9790
Evolution Securities Limited
Rob Collins
Tim Redfern
Tel: +44 (0) 20 7071 4300
Farm Street Communications Ltd The Equicom Group
Investor Relations (U.K.) Investor Relations (Canada)
Simon Robinson Joanna Longo
+44 (0) 20 7099 2212 +1 416 815 0700 ext 233
simon.robinson@ jlongo@equicomgroup.com
farmstreetmedia.com
This information is provided by RNS
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