Glencar Mining announce drilling results

Glencar Mining announce drilling results

Wednesday, August 2nd 2006

Glencar Mining plc has today announced the results of a first pass, reverse circulation drilling programme at the Sanankoro target, in the Bokoro concession in southern Mali.

Borehole BKRC007 returned an intersection of 21 metres grading 1.12 grams per tonne gold between 16 and 37 metres downhole depth.

The Bokoro concession is one of three concessions being explored under the terms of a Framework Agreement between subsidiaries of Glencar and Gold Fields Limited, one of the world’s major gold producers.

Under the terms of the Framework Agreement, the Gold Fields subsidiary may spend up to US$12m (€9.37m) on exploration over three concession areas in southern Mali, in order to earn a 65% interest in the concessions.

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