MetalNRG PLC Gold Ridge Update
08 November 2019 - 3:13AM
RNS Non-Regulatory
TIDMMNRG
MetalNRG PLC
07 November 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
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This announcement is for information purposes only and is not a
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Japan and South Africa.
8(th) November 2019
MetalNRG plc
(The "Company" or "MetalNRG")
Gold Ridge Update
Sampling of Pillars in Gold Ridge Mine Arizona
MetalNRG plc (LON:MNRG) the natural resource investing company
is pleased to confirm that the planned pillar gold sampling
programme at the Company's 100% owned Gold Ridge project in
Arizona, USA, is now underway and on schedule.
Previously the Company's announcement of 30(th) September 2019
confirmed one sample taken from a boulder on the side of the waste
dump, which originated from the pillars left behind from internal
mine workings at level 6, returned an assay of 115 ounces per tonne
gold (3,949 g/t).
In addition to this one-off very high grade gold sample our
contractors identified visible gold within level 6 and whilst
assessing the pillars. As a result the Company decided to implement
a fast track review of the pillars' gold mineralisation, which may
provide an additional, potentially significant and relatively near
term revenue opportunity for the Company, alongside processing of
gold in the waste dumps which we are preparing for in parallel.
There are a significant number of pillars left behind
underground and a sampling programme is now underway with follow on
assays to confirm gold grade via the local ASL lab in Tuscon.
Rolf Gerritsen, CEO of MetalNRG commented "I am pleased that our
technical team have mobilised on schedule and this important
sampling programme is underway. The ultra high grade sample from
the pillar boulder, at 115 ounces per tonne, is an indication of
the potentially high grade gold retained in the pillars, and as a
near term revenue source pillar processing conducted safely could
provide a material and early revenue stream for the Company which
we are keen to establish. Samples collected are being taken to the
local ASL lab for testing and the results will be released to the
market in the near term."
Rolf Gerritsen, CEO of MetalNRG, arranged for the release of
this announcement.
Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the
Company. He has reviewed the update and consents to the inclusion
of the exploration information in the form and context in which it
appears here. He is a Competent Person for the purposes of the
reporting of these results.
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
The directors of the Company accept responsibility for the
contents of this announcement.
For further information, please contact:
MetalNRG PLC Rolf Gerritsen
(Chief Executive Officer) +44 (0) 20 7796 9060
Joint Broker PETERHOUSE CAPITAL LIMITED
Guy Miller/Mark Anwyl +44 (0) 20 7469 0930
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Corporate Broker SI CAPITAL Nick Emerson +44 (0) 1483 413500
---------------------
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END
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November 07, 2019 11:13 ET (16:13 GMT)
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