Signature Metals’ Quarterly Report July 31, 2009
Posted by Fortbridge in Mining.Tags: ghana, gold, quarterly report, signature metals
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Australian company Signature Metals Limited (ASX: SBL) has released a Quarterly Report on its activities in the world-class Ashanti Gold Belt of Ghana.
HIGHLIGHTS
- Focussed on developing the Konongo Gold Project into a +100,000 ounce per annum gold producer.
- Fast tracking a strategy to bring the Konongo Gold Project rapidly into production, with potential for early cash flow from reclamation of stockpiles.
- Reviewing existing JORC Resources of approximately one million ounces.
- Exploration Target of 1.5 – 2.5 million ounces of gold at a resource grade of 2-4g/t gold.
- Exploration work programmes being designed for immediate commencement.
- Past production from Konongo Gold Project of 1.6 million ounces at a head grade of 11.8g/t gold.
- Significant infrastructure on site including a 350ktpa CIL gold treatment plant.
- CIL plant and tailings dam available and serviceable at a fraction of the cost of purchasing a new/second hand plant.
- Availability of local skilled workers and mining contractors will reduce capital and operating expenditures and implementation times.
- Government and local stakeholders supportive of recommencement of mining and production at Konongo.
For more information, please contact:
Bill Oliver
Managing Director
E-mail: info@signaturemetals.com.au
or
Matthew Wood
Chairman
E-mail: info@signaturemetals.com.au
Media:
Fortbridge +612 9331 0655
Bill Kemmery 0400 122 449
bill.kemmery@fortbridge.com
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