Polo Resources 'pleased' with progress at Komahun gold project

Polo Resources on Thursday said its mining company Nimini Holdings has completed its infill, depth and strike extension drilling at its Komahun gold project in Sierra Leone.

In an operational update, the natural resources investment company announced its 90% owned gold exploration and development business had finished its 28,500 metres in-fill, depth and strike extension drilling programme which kicked off last May.

Polo said it was satisfied with the results which will be published in the first quarter.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Nimini will this month begin a resource expansion drilling programme of 26,000 metres with the objective of adding to the expanded resource defined by last year's work.

This programme is targeting areas of open mineralisation at depth in two zones along a strike length of about 870 metres and in two new zones along a strike length of approximately 900 metres. It is scheduled to be complete by May, 2013.

"The board of Polo continues to be pleased with the progress which Nimini is making, having completed its infill and depth and strike extension drilling programme and shortly commencing the resource expansion programme at its flagship Komahun Gold project," said Executive Co-Chairman and Managing Director of Polo, Neil Herbert

"We look forward to announcing the results of the Global Mineral Resource Estimate to be published in the first quarter 2013 and subsequently the results of the Preliminary Economic Assessment scheduled for publication early in the second quarter of 2013."

RD