Glencar reports gold find in Mali

Glencar Mining has today announced that a preliminary independent resource study, carried out by SRK Consulting (UK) Ltd has reported an Indicated and Inferred, JORC compliant, mineral resource of 520,000 ounces of gold at Komana West in Mali.

This preliminary resource estimate was commissioned by Glencar in order to provide an initial estimate of the scope of the gold resource drilled to date.

This will now provide a platform against which the results of the intensive drilling campaign, which is about to commence at Komana West, can be assessed

A report, written by SRK to accompany the resource estimate, states that the 520,000 ounces represents only a portion of the resource likely to be demonstrated at Komana West following further exploration.

The density of the drilling carried out to date does not provide sufficient certainty regarding ore continuity to enable additional ounces to be brought into resource category at this time and the report states that further infill drilling has the potential to increase the resource reported above by up to some 200,000 additional ounces.

In addition, Glencar hopes that drilling along strike and at depths greater than those drilled to date will add significantly to the current, preliminary resource.

Drilling is scheduled to recommence on the Komana concession within the next two weeks, and all field crew have already been mobilized to the camp at Komana.