London, England --- MININGREVIEW.COM --- 10 March, 2008 - AIM-listed GMA Resources Plc – a company involved in advanced gold mining operations in Algeria – has achieved a successful production launch at its Amesmessa gold mine in the Sahara region of the North African country.
The company’s first progress report – released in London at the weekend – revealed that the mine – located some 400 km south-west of the city of Tamanrasset, in the Hoggar region of Southern Algeria – had made excellent progress since launching operations on 7 January, and was well in line with expectations.
“Actual production for January and February amounted to 3 125 ounces – almost 8% above the quantity predicted in the 2008 operating plan,” said the report.
The CEO of GMA, Douglas Perkins, commented: “We are delighted to be able to report a very successful first two months of production. We are pleased with the levels achieved, and the way in which the dedicated team on site has overcome early-stage teething problems to deliver a smooth and successful start for Amesmessa. We will keep shareholders informed of any new developments in both production and exploration as they happen in Algeria,” he concluded.
Perkins confirmed 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.