Amara Mining shares soar on results from Yaoure Gold mine
Amara Mining shares surged Monday after the West African gold mining company announced it encountered high grade deposits at its Yaoure Gold project in Côte d'Ivoire.
Amara Mining shares surged Monday after the West African gold mining company announced it encountered high grade deposits at its Yaoure Gold project in Cte d'Ivoire.
The firm said it found multiple zones of gold mineralisation and quartz veining after drilling 106 holes at the prospect.
The indicated mineral resource was upgraded to 0.3m ounces while initial testwork confirmed high gold mineralisation with 94% recovery.
"The delivery of a significant Mineral Resource update confirms Yaoure's position as an important part of Amara's portfolio," said Chief Executive Peter Spivey.
"It is particularly exciting that the volume of the resource is only 40% of the total volume drilled and excludes much of the anticipated higher grade CMA zone, suggesting substantial upside potential. We have commenced in-fill drilling and we expect to deliver a further mineral resource update in H2 2013."