The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Perseus Mining Limited - Drill Results - Tengrela Gold Project

Wednesday, April 21, 2010

Perseus Mining Limited - Drill Results - Tengrela Gold Project00:22 EDT Wednesday, April 21, 2010/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/6m at 476g/t, 6m at 429g/t, 22m at 72.1g/t and 8m at 65.7g/t AuPERTH, Australia, April 21 /CNW/ - Perseus Mining Limited (ASX/TSX: PRU) is pleased to provide a further update on exploration activities at the Company's Tengrela Gold Project in the Ivory Coast.Recent significant drill intercepts from resource drilling at the Sissingue prospect are summarized below. These included: << RC hole SLC245 - 8m at 65.7g/t Au from 50m including 2m at 252g/t Au from 54m; RC hole SLC246 - 18m at 7.5g/t Au from 8m including 6m at 18.3g/t Au from 18m, 6m at 429g/t Au from 34m including 2m at 1,277g/t Au from 34m; RC hole SLC247 - 6m at 476g/t Au from 56m including 2m at 1,421g/t Au from 56m and 30m at 1.6g/t from 68m; RC hole SLC249 - 22m at 72.1g/t Au from 66m including 4m at 389g/t Au from 78m; and RC hole SLC264 - 14m at 6.5g/t Au from 80m to the end of hole including 2m at 40.0g/t Au at the end of the hole. >> Drill samples were assayed by 50g fire assays by Intertek Minerals Limited in Ghana. At the Sissingue prospect, intersections are typically 60% to 90% of true width.Drill holes SLC245 and SLC246 were drilled 20m east and 14m west respectively of previously announced SLC045 which intercepted 26m at 19.5g/t Au. Drill hole SLC247 was drilled 20m and 40m east from previously announced drill holes SLC226 and SLC048 which intercepted 16m at 11.3g/t Au and 47m at 3.4g/t Au respectively.SLC249 was drilled on a parallel zone 20m north of previously announced SRC258 which intercepted 28m at 4.3g/t Au.A complete tabulation of results is contained in a filing available at www.sedar.com and the Company's website, www.perseusmining.com.Perseus Managing Director, Mark Calderwood said:"Impressive infill and extensional drill intercepts from the northern 'high grade cluster' of the Sissingue - Eastern Zone confirm the robust tenure of this high grade mineralisation.""These latest results are the last for the current round resource and reserve modelling, but drilling will continue at Sissingue to test strike and depth potential of the deposits.""Perseus is working towards completing the Sissingue feasibility study later this year and to delineate potential new resources on the 60km strike of the Syama-Boundali greenstone belt within the Tengrela licences." << Mark Calderwood Managing Director >> The information in this report that relates to exploration results is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is a Director and full-time employee of the Company. Mr Calderwood has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'") and to qualify as a "Qualified Person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr Calderwood consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. For a description of Perseus' data verification process, quality assurance and quality control measures, the effective date of the mineral resource and mineral reserve estimates contained herein, details of the key assumptions, parameters and methods used to estimate the mineral resources and reserves set out in this report and the extent to which the estimate of mineral resources or mineral reserves set out herein may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues, readers are directed to the technical report entitled "Technical Report - Central Ashanti Gold Project, Ghana" dated November 30, 2009 and the technical report entitled "Technical Report - Tengrela Gold Project, Ivory Coast" dated November 30, 2009 in respect of the Central Ashanti Gold Project and the Tengrela Gold Project, respectively.Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on assumptions and judgments of management regarding future events and results. Such forward-looking information, includes but is not limited to information with respect to future exploration and drilling, procurement of financing, procurement of necessary regulatory approvals, the development of a mine at the Central Ashanti Gold Project and completion of a definitive feasibility study at Tengrela.Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.For further information: Perseus Mining Limited, ABN 27 106 808 986, 30 Ledgar Road, Balcatta, Western Australia, 6021, PO Box 717, Balcatta, WA, 6914, Telephone: (618) 9240 6344, Facsimile: (618) 9240 2406, Email address: info@perseusmining.com, Website: www.perseusmining.com