Golden Saint Resources Ltd Operational Update (9978L)
07 October 2016 - 7:49PM
UK Regulatory
TIDMGSR
RNS Number : 9978L
Golden Saint Resources Ltd
07 October 2016
7 October 2016
Golden Saint Resources Ltd
("Golden Saint" or the "Company")
Operational Update
Golden Saint Resources Ltd (AIM:GSR), the West-African focused
diamond and gold exploration company quoted on AIM, is pleased to
update the market in relation to its operations in Baja and
Tongo:
Baja
Work on building the vehicular road access to Baja Site 2
commenced on 2 October 2016 when the appointed contractor mobilized
its heavy duty earth moving equipment on a low bed for transport to
the designated site. Subject to any unforeseen obstacles or
unplanned machine downtime it is expected that the road access work
will be completed by the end of the month when we can start
transporting the modified local washing plant and equipment to the
site. Once the plant has been set up, it will be operationally
ready to commence the washing of the existing stockpile.
Working in tandem with the heavy machinery, our staff and casual
workers were also engaged in clearing thick vegetation and building
log bridges across several water obstacles. The construction of the
security house at Baja site 2 to house surveillance staff and store
equipment including spare machine parts has also been
completed.
The modification work on the local washing plant has been
completed. Both the plant and the pumps have been fully serviced
and a washer concentrate box fitted with security screens has been
constructed to minimise any risk of theft during the washing
operations.
Tongo
Maintenance work on the Dove explorer is in progress and
expected to be completed by the end October 2016.
The water table in our existing alluvial mining site in Tongo is
still high as at date of this announcement and it is expected to
subside in about four weeks' time. Gravel extraction during this
period will incur higher than usual operating costs and hence
making it economically inefficient. After due consideration, the
Company has decided to wait for the water table to subside to a
reasonable level before commencing any gravel extraction. However,
during this time, the Company will focus on developing its
exploration program. The Company's team of geologists and
technicians have been tasked with exploring and investigating the
Company's priority one dyke targets in the northern section of the
Company's Tongo licence area, where it was identified, in the
airborne magnetic surveys, as having increased kimberlite
potential. The areas being explored are associated with the
structural features trending parallel to current known dyke
orientation belonging to our neighboring diamond producers. The
team will identify the areas where the Company should next carry
out bulk sampling operations after studying the soil profiles and
evaluating the accessibilities to the locations.
Site Visit by Rock Forage Consulting Services ("Rock
Forage")
Rock Forage is expected to carry out the next site visit to
Sierra Leone in early December 2016.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Golden Saint Resources Ltd Keng Hock Seah +618 6145 4400
Beaumont Cornish Limited Roland Cornish / Emily Staples +44 (0) 20 7628 3396
SVS Securities Plc Tom Curran / Ben Tadd +44 (0)203 700 0093
Cassiopeia Services LTD Stefania Barbaglio +44 (0)7949690338
This information is provided by RNS
The company news service from the London Stock Exchange
END
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