Metals Exploration PLC
13 June 2005
IMMEDIATE RELEASE 13 JUNE 2005
METALS EXPLORATION PLC
Runruno Project - Final results of channel sampling of Tunnels
Highlights
• Final results received from extensive channel sampling of local
miners' tunnels at Runruno Project have returned average grades of
4.3 g/t gold; 1,125 g/t molybdenum and 4.8 g/t silver.
• Local tunnels (fifty tunnels in total) sampled occur over a distance
of approximately 2 kilometres
• Diamond core drilling anticipated to commence early next month
The Company has now received the last batch of results from its recent
underground tunnel sampling program. The Company is very encouraged by these
results and looks forward to the commencement of a drilling program early next
month.
Results of mapping and sampling of the local miners' tunnels located at the
Balcony 1, Balcony 2, Main Runruno, Tayab and Malilibeg areas have confirmed
the existence of the high grade (>1.4g/t Au) potential of gold mineralisation
(and molybdenum) in the hangingwall and footwall zones of the main Runruno
mineralisation.
A description of how the samples were taken, and what they represent, was
provided in the Company's recent news release dated 27 May 2005. Generally, 5
metre channel samples were taken continuously along the side walls and backs of
the local miners' tunnels. Results of the channel samples represent the grades
of the high-grade material that the local miners have been leaving behind.
the channel samples (315 samples) taken from fifty tunnels have returned
average grades of 4.3 g/t gold; 1,125 g/t molybdenum, and 4.8 g/t silver.
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Tunnel No. of Tunnels No. of Au Mo Ag
Locations sampled Samples
g/t g/t g/t
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Balcony 1 7 50 5.7 754 3.7
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Balcony 2 1 14 5.5 978 5.2
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Main Runruno 5 42 3.1 420 2.3
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Tayab 19 100 4.5 1060 4.5
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Malilibeg 18 109 3.9 1642 6.6
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Totals 50 315 samples
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Weighted Average
Grades 4.3 1,125 4.8
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The local miners' tunnels are located predominantly in the hanging-wall or
foot-wall zones of the main Runruno mineralisation, which has been mapped at
surface over a strike distance of 2.5 kilometres. The local miners' tunnels
occur over a distance of approximately 2 kilometres.
Forward Looking Statement
The Company's objective is to determine a gold (+molybdenum) resource over a 600
metre strike, 100 metres width to a down-dip depth of 400 metres. Given these
parameters, the Directors are setting a resource target for this part of the
deposit of 45 to 55 million tonnes. This is a forward looking statement and
should not be regarded as anything else and should not be regarded as a true
indication of the resource until it has been properly explored.
Qualified Person
Gary Powell has been involved in the mining and exploration industry for more
than 20 years. He has a Bachelor of Applied Science degree in geology, and is a
member of the Australasian Institute of Mining and Metallurgy ('AusIMM') and the
Australasian Institute of Geoscientists ('AIG'). He has compiled, read and
approved the technical disclosure in this regulatory announcement.
For further information please contact:
Steven Smith, Chairman: 0044(0)7797721858
Jonathan Anderson, Investor Relations: 0044(0)7950410680
www.metalsexploration.com
This information is provided by RNS
The company news service from the London Stock Exchange
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