London, England — MININGREVIEW.COM — 14 April, 2008 – AIM-listed GMA Resources Plc – a company involved in advanced gold mining operations in Algeria – has followed up on the successful January production launch at its Amesmessa gold mine in the Sahara region of the North African country, with highly satisfactory ongoing production results.
The company’s production report for the first quarter of 2008 released in London revealed that the mine – located some 400 km south-west of the city of Tamanrasset, in the Hoggar region of Southern Algeria – had shown steadily increasing production over the first three months.
January output amounted to 1 196 oz of gold, February totaled 1 929 oz, and March reached 2 781 oz, giving a combined total of 5 906 oz for the full quarter, said the report.
GMA chief executive officer Douglas Perkins commented: “We are extremely pleased with the latest production figures from Amesmessa, which meet our expectations and confirm that the project continues to progress well. These production numbers represent an increasing flow of production from the project, and revenues which the company expects to maintain over the coming months,” he added.
Perkins confirmed earlier that Amesmessa clearly has the ability to produce more than 100 000 oz pa within 18 months
The JORC-compliant measured and indicated resources for the major veins 8 and 9 at Amesmessa stand at 1 043 000 tonnes grading 12.05 g/t Au, and representing 450 000 oz Au. Additional resources in the inferred category amount to 810 000 tonnes at 8.0 g/t Au, equivalent to 209 000 oz Au.
GMA owns a controlling 52% stake in ENOR spa – the Algerian-based operating company for the Tirek -Amesmessa project – with the remainder owned by Sonatrach, the Algerian state-owned oil and gas company.