Cluff Gold, the west Africa-focused gold miner, says it has made a new discovery at its Yaoure Project in Cote d'Ivoire.
The near-surface find suggests there is gold mineralisation across an area of around 650m near a current Cluff Gold pit.
The firm has now increased the number of drill rigs on site from three to four.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Peter Spivey, Chief Executive of Cluff Gold, commented: "These results reinforce our continued confidence in the Yaoure gold project. The location of the project, situated close to existing infrastructure, means that the cost base for development is much lower than other projects located in
West Africa.
"Yaoure is fast becoming a major component in delivering our stated strategy for becoming a mid-tier gold producer."
The market was certainly happy; Cluff shares were up 7% at 10:37.
BS
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
