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Best Results Include 8m at 325g/t Au
PERTH, Australia, April 8 /CNW/ - Perseus Mining Limited (ASX/TSX: PRU) is pleased to provide an update on exploration activities at the Company's Tengrela Gold Project in the Ivory Coast.
Recent significant drill intercepts from resource drilling at the Sissingue prospect included:
RC hole SLC228 - 8m at 325g/t Au from 96m including 2m at 1,216g/t Au
from 98m, followed by 36m at 3.1g/t Au from 104m to the
end of the hole;
RC hole SLC226 - 110m at 4.0g/t Au from 18m to the end of hole including
16m at 11.3g/t Au from 28m;
RC hole SLC224 - 84m at 3.6g/t Au from 16m to the end of hole including
2m at 73.4g/t Au from 30m;
RC hole SRC875 - 60m at 3.3g/t Au from 30m to the end of hole including
2m at 10.5g/t Au from 30m and 2m at 38.4g/t from 84m;
RC hole SLC230 - 22m at 1.4g/t Au from 14m and 56m at 3.4g/t Au from 84m
to the end of the hole; and
RC hole SRC939 - 16m at 6.5g/t Au from 10m and 4m at 20.3g/t Au from 50m.
Drill samples were assayed by 50g fire assays by Intertek Minerals Limited in Ghana.
Drill hole SLC228 was drilled 20m across strike from previously announced drill hole SLC014, which intercepted 71m at 9.0g/t Au including 10m at 27g/t Au and 36m at 8.7g/t Au.
A complete tabulation of results is contained in a filing available at www.sedar.com and the Company's website, www.perseusmining.com.
Perseus Managing Director, Mark Calderwood said:
"More impressive drill intercepts from the core of the Sissingue deposit confirm the robust tenure of this high grade zone."
"These latest results are some of the last before the cut-off for resource and reserve modelling for 2010, but drilling will continue at Sissingue and at a number of exploration targets defined by the more than 1,500 RAB drill holes drilled to date outside Sissingue."
"Perseus is working towards completing the Sissingue feasibility study later this year and to delineate potential new resources on the 60km strike of the Syama-Boundali greenstone belt within the Tengrela licences."
The information in this report that relates to exploration results is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is a Director and full-time employee of the Company. Mr Calderwood has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'") and to qualify as a "Qualified Person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr Calderwood consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. For a description of Perseus' data verification process, quality assurance and quality control measures, the effective date of the mineral resource and mineral reserve estimates contained herein, details of the key assumptions, parameters and methods used to estimate the mineral resources and reserves set out in this report and the extent to which the estimate of mineral resources or mineral reserves set out herein may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues, readers are directed to the technical report entitled "Technical Report - Central Ashanti Gold Project, Ghana" dated November 30, 2009 and the technical report entitled "Technical Report - Tengrela Gold Project, Ivory Coast" dated November 30, 2009 in respect of the Central Ashanti Gold Project and the Tengrela Gold Project, respectively.
Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on assumptions and judgments of management regarding future events and results. Such forward-looking information, includes but is not limited to information with respect to future exploration and drilling, procurement of financing, procurement of necessary regulatory approvals, the development of a mine at the Central Ashanti Gold Project and completion of a definitive feasibility study at Tengrela .
Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, , changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents.. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Perseus Mining Limited
For further information: For further information: Perseus Mining Limited, ABN 27 106 808 986, 30 Ledgar Road, Balcatta, Western Australia, 6021, PO Box 717, Balcatta, WA, 6914, Telephone: (618) 9240 6344, Facsimile: (618) 9240 2406, Email address: email@example.com, Website: www.perseusmining.com