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.

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.

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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

The FTSE 100 is set for a makeover with an influx of new tech stocks
UK stockmarkets

The FTSE 100 is set for a makeover with an influx of new tech stocks

The FTSE 100 – the dullest index in the world – is about to reinvent itself as a host of new firms list on the market. The change is long overdue, say…
24 Jan 2021
Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Think Tesla is a bubble? This might be the best way to bet on it bursting
Oil

Think Tesla is a bubble? This might be the best way to bet on it bursting

The huge rise in Tesla’s share price means that, by market value, it’s now the sixth-largest company in the US and and the world’s biggest car-maker. …
25 Jan 2021