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Sierra Leone cheer for Cluff

Article Date:  Jul 04 2007

Cluff Gold has increased its resource estimate at Baomahun in Sierra Leone 185 per cent to 1.1 million oz.

AIM-quoted Cluff said its new estimate for Baomahun, audited by consultant SRK and compliant with the industry’s JORC standard, includes an indicated gold resource of 114,000 oz at a modest grade of 4.3 grammes of gold per tonne of ore plus a less certain inferred resource of one million oz at 3.2 grammes a tonne, with gold now trading at US$653 (£324) an ounce. Drilling has now stopped because of the rainy season, but exploration will be resumed later this year.

Cluff shares were 4p up this morning at 68p, valuing the company at £47 million.

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