Gold Ridge Mine Update

RNS Number : 5841E

MetalNRG PLC

02 March 2020

 

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.

 2^nd March 2020

MetalNRG plc

(The "Company" or "MetalNRG")

Gold Ridge Mine Update

MetalNRG plc (LON:MNRG), the natural resource investing and exploration company,  announces that the Gold Ridge Mine operation has been assigned the necessary MSHA Identification Number by the Federal Mine Safety and Health Department.

This milestone now completes the work required under Stage 1 to secure the permit and enables the management to develop the Company's detailed operational plans along with finalising logistics for planned drilling.

The review of all sample information gathered at the Gold Ridge Mine, which we completed at the beginning of January, suggested that the most economical approach to secure the highest possible return on the ore within the waste dump, outside level 6, is to blend it with high grade ore from the pillars. Accordingly, we have integrated this approach into our overall plans for the Gold Ridge Mine and plan to process ore from the vein at level 6 and the waste dump outside level 6 at the same time. We will be working on this over the next 6 months.

Rolf Gerritsen, CEO of MetalNRG commented  "I am pleased with the progress we have made in in Arizona.  We had anticipated the ID number release for the end of March so being ahead of schedule is good news and we are now moving forward with further development work."

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/ Duncan Vasey and Lucy William	[phone]
Joint Broker SI CAPITAL- Nick Emerson	[phone]

 

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