AIM: CLF
TSX: CFG
Cluff Gold plc
Commissioning
of the Kalsaka Gold Mine in Burkina Faso
London,
England, 21 July, 2009 - Cluff Gold plc (AIM: CLF; TSX: CFG)
("Cluff" or the "Company"), the
West African focused gold mining company announces that, as at 30 June
2009, the operations at the Kalsaka Gold
Mine have reached the required standard at which successful commissioning has
been achieved.
Gold was first
poured at the Kalsaka Gold Mine in October, 2008 and
since that time performance has incrementally increased each month.
Total gold
production for the first 6 months of 2009 amounted to 26,772 ounces at a cash
operating cost of US$595 per ounce (US$632 per ounce including royalty and
refining charges). Forecast production for the full year is 60,000 ounces.
"The
successful commissioning of the Kalsaka Gold Mine is
a direct result of a strong team that has worked diligently to advance this
project from development into operations," said Mr. Algy
Cluff, Chairman and CEO of Cluff
Gold plc. "However, this is just phase one as it is our intention to
increase the capacity of the plant at Kalsaka and to
increase our resource base such that the Kalsaka Gold
Mine becomes the hub for the development of satellite deposits in this area.
With the increased throughput, we believe we will achieve better than our
forecast production for the year and lower cash cost per ounce."
Kalsaka Gold Mine
The
Kalsaka Gold Mine is located approximately 150km
north west of Ouagadougou, the capital of Burkina Faso, and contains an oxide
gold mineral resource that has already been demonstrated, by a feasibility
study, to be technically amenable to open-pit mining and processing via heap
leaching. The Company poured the first gold in October of 2008.. The projected annualized gold production is 60,000
ounces. The mine has total measured and indicated resource of 12.1
million tones at 1.6 g/t Au and 3.3 million tones of
inferred resource at 1.5g/t Au. The ore bodies are amenable to open-pit
mining and heap leach processing methods. Cluff has a
78% ownership of the Kalaska Gold Mine, the remaining
interest being held by the Company's local partner, IMAR-B (12%) and the
government of Burkina Faso (10% free-carried interest).
Douglas D Chikohora has reviewed and approved the information
contained within this announcement. Mr Chikohora (MSc., MIMMM., CEng.) is the Technical
Director of the Company.
About
Cluff Gold
Cluff Gold is focused on the
identification, acquisition and development of gold deposits in West
Africa that are amenable to open-pit mining and low cost production
techniques. The Company has assembled a portfolio of mineral interests
at various stages of development in C?te
d'Ivoire, Burkina Faso, Sierra Leone, and Mali. Cluff Gold progressed from being an explorer to a producer
in Q1 2008 and is expected to produce 100,000 ounces of gold on an annualised basis for 2009 from its Angovia
Gold Mine in Cote d'Ivoire and from its Kalsaka
Gold Mine in Burkina Faso. Cluff Gold is
actively evaluating known satellite deposits to expand the resource base at
both mines.
This
News Release includes certain "forward-looking information" within
the meaning of applicable Canadian securities legislation. All
statements other than statements of historical fact, included in this release,
including, without limitation, the positioning of the Company for future
success, statements regarding potential future production at Angovia and Kalsaka, exploration and
drilling results at Baomahun, and
future capital plans and objectives of Cluff
Gold, are forward-looking information that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from Cluff Gold's
expectations include, among others, risks related to international operations,
the actual results of current exploration and drilling activities,
changes in project parameters as plans continue to be refined as well as future
price of gold. Although Cluff Gold has
attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated or intended.
There
can be no assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Cluff
Gold does not undertake to update any forward-looking statements that are
included herein, except in accordance with applicable securities laws.
For further
information, please contact:
Cluff Gold
plc
J.G. Cluff, Chairman
Eileen Carr,
Finance Director
Tel: +44
(0) 20 7340 9790
Evolution Securities
Limited
Rob Collins
Tim Redfern
Tel: +44 (0) 20 7071 4300
The Equicom Group
Joanna Longo
Investor
Relations (Canada)
+1 416 815 0700 ext 233
jlongo@equicomgroup.com
|
Farm
Street Communications Ltd
Simon
Robinson
Investor
Relations (U.K.)
+44 (0) 207 099 2212
simon.robinson@farmstreetmedia.com
|
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