09/05/2008
Glencar Mining has followed encouraging drilling results at Mali’s Kamana East gold prospect with ‘significant’ mineralisation at another, Solona.
The Dublin-based company says drilling intersected four metres at a bonanza grade of 155 grammes per tonne of ore at Badogo Malikila within the Solona licence. The company also found 16 metres at a more modest 2.54 grammes a tonne and four metres at 9.28 grammes at Niechilela, and eight metres at 2.27 grammes at Faliko, also within the Solona licence.
Further drilling will follow to find out more. Glencar shares plunged from 10p to 1.25p between 2000 and 2002 on disappointment at the company’s Wassa gold project in Ghana. They’ve since moved from the Full List to AIM, in 2005, and have recovered to 9p. They could bounce further if the Mali news continues to cheer.
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