Auger Drilling Campaign to Commence

RNS Number : 8764A

African Mining & Exploration PLC

05 April 2012

 



African Mining and Exploration plc.

("AME" or "the Company")

Auger Drilling Campaign to Commence

African Mining & Exploration plc (AME), the AIM listed mining company focusing on exploration in West Africa said today that despite difficulties in operating conditions as a result of sanctions being applied by ECOWAS (Economic Community of West African States) it has decided to commence an Auger drilling campaign on its Karan Exploration permit. The sanctions applied on Monday resulted in the blocking of cash from the West African central bank and the closure of all land borders. This will affect fuel supplies as Mali is totally dependent on imported fuel.

AME Mali has sufficient fuel reserves to allow an Auger drilling campaign to commence at its Farague project. This was part of a RAB and Auger drilling campaign that would have commenced had political changes not brought about the necessity to review the planned work programme. RAB drilling which is more resource intensive will now only commence when political stability has returned. It is envisaged Auger drilling will commence on Friday.

AME will continue to monitor the situation and report back to the market should things change.

Enquiries:                                                                                                                          

African Mining & Exploration plc.	[phone]
Mark Jones (Chief Executive Officer)
Singer Capital Markets Limited (Nomad and Broker)	[phone]
James Maxwell / Jenny Wyllie

 

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