TORONTO, Aug. 3, 2012 /CNW/ - Further to the announcement on 19 June 2012 Polo Resources Limited (AIM, TSX: POL), the natural resources exploration investment company with interests in gold, oil and gas, coal and iron ore, today announces the filing on SEDAR (www.sedar.com) of a technical report on the Nimini Gold Project, also known as the Komahun Gold Project, in Sierra Leone, in which Polo has a 90% interest (the "Technical Report"). The Technical Report has been prepared in compliance with Canadian National Instrument 43-101 by SGS Canada.
Neil Herbert, Executive Co-Chairman and Managing Director of Polo Resources, commented:
"The board of Polo is delighted with the substantial progress made under the management of Plinian Capital. The Nimini team is making significant developments at the flagship Nimini Gold Project in particular, and has recently commenced a programme to test regional targets.
"With further drilling now well underway at Komahun, this highly prospective asset is well positioned to complete the pre-feasibility study in Q1, 2013. We will shortly publish the results for a series of holes which were drilled subsequent to the data used to estimate the Mineral Resource update."
About the Company
Polo Resources is an investment company focused on investing in the natural resources sector, principally in undervalued companies and projects with strong growth and attractive earning fundamentals. For complete details on Polo Resources refer to: www.poloresources.com.
The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Polo Resources Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Polo Resources Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
The Company's exploration and investment activities may also be affected by a number of risks, including legal, political, environmental, economic, financing, permitting, commodity, exploration and development and other market risks which are normal to the industry and referenced in greater detail in the Company's 2011 Annual Report for the period ending June 30, 2011, filed on the Company's profile on www.sedar.com.
SOURCE: Polo Resources Limited
For further information:
Polo Resources Limited
Ian Burns, Finance Director
+ 27 82 404 36 37
Neil Elliot, George Price, Chris Sim
+44 (0) 20 7597 5970
Chris Bowman, Tim Graham
+44 (0) 20 3100 2228
Blythe Weigh Communications
Tim Blythe, Robert Kellner
+44 (0) 207 138 3204
Borden Ladner Gervais LLP
Jeffery Barnes, Habeeb Syed
+1 416 367 6459