Gold Ridge Update - Preliminary Results

RNS Number : 0024O

MetalNRG PLC

27 September 2019

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

This announcement is for information purposes only and is not a prospectus and not an offer of securities for sale in any jurisdiction, including in the United States, Australia, Canada, Japan and South Africa.

27th September 2019

MetalNRG plc

(The "Company" or "MetalNRG")

                                                               Gold Ridge Preliminary Results

Metal NRG Plc (LON: MNRG), the natural resource investing company, today announces that it has received preliminary results from the ALS Global laboratory in Tucson Arizona for samples taken from its Gold Ridge Project.

The preliminary results pertain to samples, taken earlier in September 2019, from a waste dump outside of the main entrance to the Gold Ridge Mine, and suggest a viable 1g/t of gravity recoverable gold from this specific waste dump. We are currently finalising the analysis of the lab results and will have a more detailed update early next week.

The company's strategy is to progress project with cash generated from the projects itself. The initial indications from the work completed thus far at Gold Ridge would suggest that we are on the right track towards further developing the Gold Ridge Project.

Rolf Gerritsen CEO of MetalNRG said "I am pleased with these initial results which indicate that our strategy of generating early cashflow from existing projects to further develop these projects can work. We are now working on establishing the exact economic value of the waste dump and determining the most economical way of getting value from it. I look forward to giving the markets additional updates as we make progress early next week".

Rolf Gerritsen, CEO of MetalNRG, arranged for the release of this announcement.

Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to the inclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The directors of the Company accept responsibility for the contents of this announcement.

For further information, please contact:

MetalNRG PLC  Rolf Gerritsen (Chief Executive Officer)	[phone]
Joint Broker PETERHOUSE CAPITAL LIMITED Guy Miller/Mark Anwyl	[phone]
Corporate Broker SI CAPITALNick Emerson	[phone]

 

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